Business, 12.02.2020 00:51 INEEDTOPASSS

Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions.(a) Owner invested $68,000 cash in the company along with equipment that had a $29,000 market value in exchange for its common stock.(b) The company paid $2,100 cash for rent of office space for the month.(c) The company purchased $10,000 of additional equipment on credit (payment due within 30 days).(d) The company completed work for a client and immediately collected the $1,600 cash earned.(e) The company completed work for a client and sent a bill for $9,000 to be received within 30 days.(f) The company purchased additional equipment for $6,100 cash.(g) The company paid an assistant $3,000 cash as wages for the month.(h) The company collected $5,300 cash as a partial payment for the amount owed by the client in transaction (i) The company paid $10,000 cash to settle the liability created in transaction (j) The company paid $1,100 cash in dividends to the owner (sole shareholder).Enter the impact of each transaction on individual items of the accounting equation.

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