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Sweet Acacia Doirin is the proprietor of Doirin Accounting Services. 1. Invoiced a client $418 for preparation of a budget. 2. Supplies purchased on account

Sweet Acacia Doirin is the proprietor of Doirin Accounting Services.

1. Invoiced a client $418 for preparation of a budget.
2. Supplies purchased on account for $172.
3. Paid $344 for employee salaries.
4. Received $246 from customer referred to in #1.
5. Paid for the supplies from #2 above.
6. The owner withdrew $2,150 cash for personal use.
7. Received the utility bill for last month $172.
8. The owner invested $1,720 cash into the business.

For each of the following transactions, indicate the effects on the business' assets, liabilities, and owners equity. (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

Transactions Assets Liabilities Capital Drawings Revenue Expenses
1. $ $ $ $ $ $
2.
3.
4.
5.
6.
7.
8.

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