Transaction Analysis The following events occurred for Parker Company. Required: Analyze the effect of each transaction on the accounting equation. For example, if salaries of $500 were paid, the answer would be "Decrease in stockholders' equity (expense) $500 and decrease in assets (cash) $500." a. Performed consulting services for a client in exchange for $3,200 cash. $3,200 and $3,200. b. Accrued $800 for current month's rent. $800 and c. Performed consulting services for a client for cash, $1,700. $1,700 and Purchased office supplies on account, $900. $900 and e. Paid a $2,500 cash dividend to stockholders. $2,500 and g. Purchased land with $30,000 promissory note. $30,000 and $800. i. Stockholders invested $20,000 cash in the business. $20,000 and $1,700. f. Paid $550 on account for supplies purchased in Transaction d. $550 and - $550. Check My Work 3 more Check My Work uses remaining. $900. $2,500. h. Collected $1,500 from a client who was billed last month. $1,500 and $30,000. $1,500. $20,000.

The following events occurred for Parker Company. Required: Analyze the effect of each transaction on the accounting equation. For example, if salaries of $500 were paid, the answer would be "Decrease in stockholders' equity (expense) $500 and decrease in assets (cash) $00, a. Performed consulting services for a client in exchange for $3,200 cash. $3,200and $3,200. b. Accrued $800 for current manth's rent. $800and $500. c. Performed consulting services for a client for cash, $1,700. $1,700and $1,700. Purchased office supplies en account, $900. $900and $900. c. Paid a \$2,500 cash dividend to stockholders. $2,500and $2,500 4. Paid $550 on account for supplies purchased in Transaction d. $550and $550. 9. Purchased land with $30,000 promissory note. $30,000and 530,000. h. Collected $1,500 from a client who was billed last month. $1,500and $1,500. 1. Stockhoiders invested $20,000 cash in the business: $20,000 and $20,000