QUESTION ASSETS

Owner withdrew equity in the form of cash, $$150\mathrm{.}00.$

Received cash from sales, $$900\mathrm{.}00.$

Paid cash for camera repairs, $$100\mathrm{.}00.$

Sold services on account to Eden Wedding Planners, $$400\mathrm{.}00.$

Received cash from sales, $$650\mathrm{.}00.$

Paid cash for charitable contributions, $$35\mathrm{.}00.$

Received cash on account from Eden Wedding Planners, $$300\mathrm{.}00.$

Shannon O'Bryan operates a service business called Edgecliff Photography. Edgediff Photography uses the accounts shown in the following accounting

equation. Transaction $1$ is given as an example. For each transaction, complete the following: $($a$)$ Analyze the transaction to determine which accounts

in the accounting equation are affected. $($b$)$ In the appropriate columns, enter a plus sign $(+)$ if the account increases or a minus sign $(-)$ if the

account decreases, and then enter the amount. $($c$)$ For transactions that change owner's equity, enter a description $($revenue$,$ expense, investment, or

withdrawal$)$ of the transaction to the right of the amount. $($d$)$ Calculate and enter a new balance for each account in the accounting equation. $($e$)$