a. Issued common shares for $54,000 cash b. Borrowed $30,000 from a bank. c. Purchased equipment for

a. Issued common shares for $54,000 cash b. Borrowed $30,000 from a bank. c. Purchased equipment for $6,000 cash. d. Prepaid rent on office space for 6 months in the amount of $7,500. e. Performed consulting services in exchange for $5,000 cash f. Performed consulting services on credit in the amount of $17,000. g. Incurred and paid wage expense of $7,300. h. Collected $6,400 of the receivable arising from Transaction f i. Purchased supplies for $1,100 on credit. j. Used $900 of the supplies purchased in Transaction i. k. Paid for all the supplies purchased in Transaction i Required: For each transaction described above, indicate the effects on assets, liabilities, and shareholders' equity using the format below the box blank. Enter decreases in account values as negative numbers. If the effect of a transaction is to increase AND decrease the net effect on the item is zero. Shareholders' Equity Liabilities Assets = Retained Share Earnings Capital a. b. C. d. e. f g. h. i. j. k.

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