stion list estion 1 estion 2 K Abby Petrone recently opened her own law office on March 1, which she operates as a corporation. The name of the new entity is Abby Petrone, Attorney. Petrone experienced the following events during the organizing phase of the new business and its first month of operation, March 2024. Some of the events were personal and did not affect the law practice. Others were business transactions and should be accounted for by the business (Click the icon to view the transactions.) Read the requirements Requirement 1. Analyze the effects of the preceding events on the accounting equation of Abby Petrone, Attorney Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 1st. For each transaction that follows the transaction on the 1st, calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account on the 31st, calculate total assets and total liabilities and equity. (Complede only the necessary answer boxes for your transaction lines. If a transaction is personal and does not affect the business, leave the transaction line blank. Carry down all balances to the "Bal." line. including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used AP Accounts Payable, AR Accounts Receivable: Com Common Contr. Cap. Contributed Capital Div. Dividends: Comp Computer Exp Expense: Liab. Liabilities: Misc. Miscellaneous Rev Revenue: Sup Supplies; Utl Utes) 3/1 3/2 Bal Cash . ASSETS -LIAB EQUITY Contr Cap. Retained Earnings AR Office Comp Sup A/P Com Div Stock Service Util Rev Exp. Misc. Exp. More info Sold personal investment in Amazon stock, which she had owned for several years, receiving $25.000 cash Deposited the $25,000 cash from the sale of the Amazon stock in her personal bank account Mar. 1 Mar. 2 Mar. 3 Mar. 5 Paid $750 cash for ink cartridges for the printer Mar. 7 Deposited $90,000 cash in a new business bank account sted Abby Petrone, Attorney. The business issued common stock to Petrone Mar. 9 Mar. 15 Purchased computer for the law office, agreeing to pay the account. $6,500, within three months Received $3,300 cash from customers for services rendered Received bill from The Lawyer for magazine subscription $120. (Use Miscellaneous Expense account.) Mar. 23 Finished court hearings on behalf of a client and submitted a bill for legal services, $11,000, on account Mar. 28 Paid bill from The Lawyer. Mar. 30 Paid utilities. $840. Mar. 31 Received $3,400 cash from clients billed on March 23. Mar. 31 Cash dividends of $4,500 were paid to stockholders Print Done