Starters S1-2 Suppose you need a bank loan to purchase lawn equipment for Ralph's Landscaping Service. In evaluating your loan request, the banker asks about the assets and liabilities of your business. In particular, the banker wants to know the amount of the business's owner's equity. Exercises E1-7 Indicate the effects of the following business transactions on the accounting equation of a proprietorship. Transaction a is answered as a guide Problems Group A P1-2: Jon Conin, CPA was an accountant and partner in a large firm. Recently, he rosigned his position to open his own accounting business, which he operates as a proprietorship Open the text chapter, then open the "Assignment Material" tab to find your questions a