Required: Use a spreadsheet to summarize the below transactions to show their cumulative effect on the basic accounting equation. (15 marks)

(c) CompuTech is a newly registered enterprise in IT consultancy services, owned by Ken Wright. The following are the business transactions in the first three months of 2016. All figures are in Ghana Cedis (GH) 1. On Jan 4, invested 20,000 cash in the business. 2. Rented an office for 500 a month and made advance payment of 6,000 3. Purchased furniture for 3,000 cash 4. Purchased stationery and other supplies on credit at a cost of 2,500. 5. CompuTech received 3,000 cash from a customer for networking services it provided. 6. Received a bill for 1,200 from the Internet Service Provider (ISP). 7. Provided 11,000 of programming services and received cash of 5,000 from the customer. The balance was put on the customer's account. 8. Paid salaries of employees 3,000, and utilities 500. Also spent 900 on advertisement on credit. 9. Made full payment to the advertising company and the ISP. 10. The owner made drawings of 2,400 in cash from the business. 11. Received 4,000 cash from the customer. 12. Supplies consumed amounted to 1,500. Page 1 of 6 EXAMINER: RICHMOND OBENG