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How transactions change an accounting equation

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Question: Determining how transactions change an accounting equation Marion Cassidy operates a service business called Cassidy Company. Cassidy Company uses the accounts shown in the following accounting equation. Use the form in your Working Papers to complete this problem

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Transactions: 1. Paid cash for rent, $400.00.

2. Received cash from owner as an investment, $500.00.

3. Paid cash for telephone bill, $50.00.

4. Received cash from sales, $1,025.00.

5. Bought supplies on account from Delta Company, $450.00.

6. Sold services on account to Ana Santiago, $730.00.

7. Paid cash for advertising, $660.00.

8. Paid cash for supplies, $150.00.

9. Received cash on account from Ana Santiago, $400.00.

10. Paid cash on account to Delta Company, $1,500.00.

11. Paid cash for one month of insurance, $100.00.

12. Received cash from sales, $1,230.00.

13. Paid cash to owner for personal use, $1,200.00.

Reference no: EM131536795

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