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What are the effects of the accounting equation

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M. Gonzales has the following transactions during August of the current year. Indicate the effect on the accounting equation and the debit-credit analysis.

Aug. 1 Opens an office as a financial advisor, investing $9,000 in cash.

4 Pays insurance in advance for 6 months, $2,100 cash.

16 Receives $3,600 from clients for services performed.

27 Pays secretary $1,000 salary.

Problem 1: What are the effects of the accounting equation?

Reference no: EM132674827

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