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Rowand enterprises had the following selected transactions

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Reference no: EM131138594

Rowand Enterprises had the following selected transactions.

1. Aaron Rowand invested $4,000 cash in the business.
2. Paid office rent of $1,100.
3. Performed consulting services and billed a client $5,200.
4. Aaron Rowand withdrew $700 cash for personal use.

Instructions

(a) Indicate the effect each transaction has on the accounting equation

(Assets = Liabilities + Owner's Equity), using plus and minus signs.

(b) Journalize each transaction. (Omit explanations.) 

Reference no: EM131138594

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