. State whether the following transaction will affect assets, liabilities or owners equity:

A. Carolyn Wells deposited $120,000 into the business which is called the Carolyn Wells, CPA (sole proprietor structure)

B. The company purchased some office furniture for $2,500-

C. It also purchased a business car for $25,000 by paying $10,000 cash and getting a loan from a local bank for $15,000 for 15 years.

D. Paid office rent of $1000-

E. Prepared a tax-return and billed a client $500 for the services provided. Client will pay in the next 30 days

F. Purchased insurance to protect the business and the business car in the amount of $2400 for 12 months. The company paid it with the company check 502