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  3. this is the same question i also attached exhibit 16...

Question: this is the same question i also attached exhibit 16...

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This is the same question, I also attached exhibit 1-6.
P1-40A Using the accounting equation for transaction analysis Learning Objective 4 Meg McKinney opened a public relations firm called Solid Gold on August 1, 2018. The following amounts summarize her business on August 31, 2018: Cash $13,600 ASSETS LIABILITIES EQUITY Contributed Capital + Retained Earnings Cash +Accounts Office Land Receivable Supplies Accounts Common Dividends Service Rent Advertising Payable Stock Revenue Expense Expense $3,200 Bal. $1,900$3,200 $0 +$15,000 $5,000 + $11,900
During September 2018, the business completed the following transactions: a. Received contribution of $17,000 cash from Meg McKinney in exchange for common stock. Performed service for a client and received cash of $800. c. Paid off the beginning balance of accounts payable. d. Purchased office supplies from OfficeMax on account, $1,200. e. Collected cash from a customer on account, $2,000. f. Cash dividends of $1,600 were paid to stockholders. g. Consulted for a new band and billed the client for services rendered, $4,500. h. Recorded the following business expenses for the month: b. Paid office rent: $1,000. Paid advertising: $500. Analyze the effects of the transactions on the accounting equation of Solid Gold using the format presented in Exhibit 1-6.
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