question 1

. Indicate how the following transactions affect the accounting equation, that is increase or decrease the assets, liabilities and capital by the amount of the transaction.

Rendered services and received the amount in cash, $9,000. (8marks)

(a) Paid for electricity expenses in the amount of $5,700

(b) Purchased office supplies on credit, $8,000

(c) Incurred postal services $24,000, to be paid within 30 days

(d) Mr. Brown, the owner, withdrew $5,500 cash for personal