A Using the accounting equation for transaction analysis Missy Mansion opened a public relations firm called Solid Gold on August 1, 2016. The following amounts summarize her business on August 31, 2016:
During September 2016, the business completed the following transactions:
a. Missy Mansion contributed $8,000 cash in exchange for common stock.
b. Performed service for a client and received cash of $1,300.
c. Paid off the beginning balance of accounts payable.
d. Purchased office supplies from OfficeMax on account, $400.
e. Collected cash from a customer on account, $2,200.
f. Cash dividends of $1,800 were paid to stockholders.
g. Consulted for a new band and billed the client for services rendered, $6,500.
h. Recorded the following business expenses for the month: Paid office rent: $1,400. Paid advertising: $350.
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