Read the instructions properly then as you read the transactions fill the column with appropriate numbers c. Calculate a new balanced. Before going on to the next transaction, delTransactions:1. Received cash from owner as an investment, $5,000.00.2. Paid cash for insurance, $1,800.00.3. Bought supplies on account from Hickman Mowing, $700.00.4. Bought supplies on account from Knapp Co., $200.00.S. Paid cash on account to Hickman Mowing, $300.00.6 Paid cash for supplies, $100.00.7. Paid cash on account to Knapp Co., $100.00.8 Received cash from owner as an investment, $1,000.00.261-4 Application Problem: Determining how revenue, expense, and withdrawaltransactions change an accounting equation L04, 5, 6Shannon O'Bryan operates a service business called Edgecliff Photography. Edgecliff Photography uses the accountsshown in the following accounting equation. Use the form in your Working Papers to complete this problem.+ Owner's EquityTrans.No.Beg. Bal1New Bal2Chapter 1Cash725325AssetsAccts. Rec.-Eden WeddingPlanners00+ Supplies +200200LiabilitiesAccts. Pay.-PrepaidInsurance = Shutter Supplies +300300200200Instructions:For each transaction, complete the following. Transaction 1 is given as an example.a. Analyze the transaction to determine which accounts in the accounting equation are affected.Shannon O'Bryan,Capital1,025-400 (expense)6251-M Mastery Problem: Determinequation 104, 6,8b. Write the amount in the appropriate columns using a plus sign (+) if the account increases or a minus sign (-) if theaccount decreases.Starting a Proprietorship: Changes That Affect the Accounting EquationPeter Gentry operates a service business caaccounts shown in the following accountiproblem.TransNo.Beg BatNew BatCash2.5005002,000AcctsDr. SInstructions:For each transaction, complete ta. Analyze the transaction to db. Write the amount in the apthe account decreases.c. For transactions that chathe amount.d. Calculate the new balace. Before going on to theTransactions:1. Paid cash for rent, $52. Received cash from3. Paid cash for telep4. Received cash fro5. Bought supplies6. Sold services or7. Paid cash for a8. Paid cash for c. For transactions that change owner's equity, write in parentheses a description of the transaction to the right ofthe amount.d. Calculate a new balance for each transaction in the accounting equation.e. Before going on to the next transaction, determine that the accounting equation is still in balance.Transactions:1. Paid cash for rent, $400.00.2. Owner withdrew equity in the form of cash, $150.00.3. Received cash from sales, $900.00.4. Paid cash for camera repairs, $100.00.5. Sold services on account to Eden Wedding Planners, $400.00.6. Received cash from sales, $650.00.7. Paid cash for charitable contributions, $35.00.8. Received cash on account from Eden Wedding Planners, $300.00.1-M Mastery Problem: Determining how transactions change an accouequation 104, 5, 8eter Gentry operates a service business called Doggywood Pet Suites. Doggywood Pet Suites usecounts shown in the following accounting equation. Use the form in your Working Papers to cooblem.Trans.AssetsLiabilitiesAccts. Pay.-+ Owner's

Accounting Equation - Accounting Equation is a Horizontal way of recording all the transactions…

c. For transactions that change owner's equity, write in parentheses a description of the transaction to the right of the amount. d. Calculate a new balance for each transaction in the accounting equation. e. Before going on to the next transaction, determine that the accounting equation is still in balance. Transactions: 1. Paid cash for rent, $400.00. 2. Owner withdrew equity in the form of cash, $150.00. 3. Received cash from sales, $900.00. 4. Paid cash for camera repairs, $100.00. 5. Sold services on account to Eden Wedding Planners, $400.00. 6. Received cash from sales, $650.00. 7. Paid cash for charitable contributions, $35.00. 8. Received cash on account from Eden Wedding Planners, $300.00.