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Received cash on account fom De Shephard $150.00 10 Pad cash on m a caw ca. 500.00 11. Podcash for one month of insurance $100.00 12 Received cash from sales 5475.00 1 Owner withinwegurity in the form of cash. 800.00 Cikalonge Problem: Determining how transactions change an accounting equation 104,5,6 + Owner's Equity owns a tutoring service called Homework Helper On October 30, Homework Helper's accounting equatio nd the following account balances. Use the form in your Working Papers to complete this problem, Liabilities Acets. Pay. Ashley Tech Services + Linda Lu. Capital 7.362 Prepaid Aucts Re- Supplies Insurance 3145 Daycare Cash Instructions: 1. For each transaction complete the following: Analyze the transaction to determine which accounts in the accounting equation are affected. h Write the amount in the appropriate columns, using a plus sign (+) if the account increases or a minus sign (-) if the account decreases For transactions that change owner's equity, write in parentheses a description of the transaction to the right of the amount d Calculate the new balance for each account in the accounting equation. e. Before going on to the next transaction, determine that the accounting equation is still in balance. 2. Answer the following questions a. Why can the owner of a business withdraw assets from that business for personal use? b. Why would the owner withdraw assets other than cash? Transactions: 1. Took $300.00 of supplies for personal use. 2. Had computer repaired at Ashley Tech Services and agreed to pay Ashley Tech Services at a later date, $225.00. 3. Linda Liu sold her personal book collection for $750.00 cash. 4. Paid Ashley Tech Services, $125.00. 21st Century Skills Creativitu

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