Toms Tree Trimming is a sole proprietorship business run by Tom Petty. During its first month of operations, the following transactions occurred:

1. Tom Petty starts the business by investing cash of $10,000 and equipment worth $20,000.

2. Tom purchased equipment for $5,000. He paid $1,000 cash and signed a note for the remaining $4,000.

3. Tom incurred $600 in advertising expense. He opened an account with the local advertising firm. The advertising firm will bill him for the ads.

4. Tom provided $3,400 of services for several customers. Tom received $1,400 in cash and the rest was billed on account.

5. Tom received a $500 deposit for a tree trimming job to be done next month.

6. Tom withdrew $200 for personal use.

7. Tom paid the advertising bill (item 3).

8. Tom paid $1200 for a one-year business insurance policy.

9. Customers (from #4) paid $700.

10. Tom completed the tree trimming job (from #5) and received the $800 balance due on the job.

Required:

Using the table provided here, show how each transaction affects the accounting equation. You need not indicate the specific accounts affected. Only enter ONE AMOUNT that is the net or total amount by which each component of the equation increases or decreases. DO NOT USE COMMAS, DOLLAR SIGNS, OR ANY OTHER SPECIAL CHARACTERS WHEN ENTERING MONETARY AMOUNTS AND ONLY ENTER AMOUNTS IN DOLLARS (e.g. enter 100 not 100.00). ENTER INCREASES AS POSITIVE NUMBERS AND ENTER DECREASES AS NEGATIVE NUMBERS (e.g. if an equation component decreases by $100, enter "-100" (without the quotation marks). When a component of the accounting equation is not affected at all, type in "N/A" (used this exact wording, without the quotations). If a component of the equation increases and decreases by the same amount, type in "Net Zero Change" (use this exact wording).

Item ASSETS ELIABILITIES + t OWNER'S EQUITY 2. 3. 4. 5. 6. 7 8. 9. 10