P1-34A Matilda Crone owns and operates a public relations firm called Dance Fever, Inc.

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P1-34A Using the accounting equation for transaction analysis [15–25 min]
Matilda Crone owns and operates a public relations firm called Dance Fever, Inc.
The following amounts summarize her business on August 31, 2012:

a. Issued common stock and received cash of $13,000.
b. Performed service for a client and received cash of $900.
c. Paid off the beginning balance of accounts payable.
d. Purchased supplies from OfficeMax on account, $600.
e. Collected cash from a customer on account, $700.
f. Received cash of $1,600 and issued common stock.
g. Consulted for a new band and billed the client for services rendered, $5,500.
h. Recorded the following business expenses for the month:
1. Paid office rent, $1,200.
2. Paid advertising, $600.
i. Returned supplies to OfficeMax for $110 from item d, which was the cost of the supplies.
j. Paid cash dividends of $2,000.

Requirement
1. Analyze the effects of the preceding transactions on the accounting equation of
Dance Fever. Adapt the format to that of Exhibit 1-6.