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The following events concern Anita Martin, a Manitoba law school graduate, for March 2021: 1. On March 4, she spent $20 on a lottery ticket. 2 On March 7, she won $275,000 in the lottery and immediately quither job as a junior lawyer. 3 On March 10, she decided to open her own law practice, and deposited $85,000 of her winnings in a business chequing account. Martin Legal Services. 4. On March 14, she purchased a new luxury condominium with a down payment of $150,000 from her personal funds plus a home mortgage of $255.000. 5. 6. 7. On March 15, Anita signed a rental agreement for her law office space for $2,500 a month, starting March 15. She paid the first month's rent, as it is due on the 15th of each month. On March 19, she hired a receptionist. He will be paid $525 a week and will begin working on March 24. On March 20, she purchased equipment for her law practice from a company that had just declared bankruptcy. The equipment was worth at least $15,000 but Anita was able to buy it for only $8.200. On March 21, she purchased $225 of supplies on account. On March 24, she purchased an additional $6,100 of equipment for her law practice for 52.600 plus a $3.500 note 8. 4. On March 14, she purchased a new luxury condominium with a down payment of $150,000 from her personal funds plus a home mortgage of $255,000. 5 6. 7. On March 15, Anita signed a rental agreement for her law office space for $2,500 a month, starting March 15. She paid the first month's rent, as it is due on the 15th of each month. On March 19, she hired a receptionist. He will be paid $525 a week and will begin working on March 24. On March 20, she purchased equipment for her law practice from a company that had just declared bankruptcy. The equipment was worth at least $15,000 but Anita was able to buy it for only $8,200. On March 21, she purchased $225 of supplies on account. On March 24, she purchased an additional $6,100 of equipment for her law practice for $2,600 plus a $3,500 note payable due in six months. 8. 9. 10. 11. On March 31. she performed $3,700 of legal services on account. On March 31. she received $2.500 cash for legal services to be provided in April. On March 31, she paid her receptionist $525 for the week. On March 31, she paid $225 for the supplies purchased on account on March 21. 12 13. Question 1 of 1 -/56 E Prepare a tabular analysis of the effects of the above transactions for Anita Martin's law practice on the accounting equation of a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-13 for example. Please enter a zero for any answer fields in the total section (do not leave any fields blank in the total section)) Assets Transaction Cash Acc. Rec. Supplies Ec E 1. $ 0 0 $ 0 2. 0 0 0 0 3. 4. 0 0 6. 0 0 0 7 0 0 B 0 0 0 0 0 0 0 0 0 13. 0 0 $ un $ 5 Owner's Equity A. Martin A. Martin Capital Drawings Revenues Expenses 0 $ 0 O $ 0 0 O 0 0 0 0 Prepare a tabular analysis of the effects of the above transactions for Anita Martin's law practice on the accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Owner's Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-13 for example. Please enter a zero for any answer fields in the total section (do not leave any fields blank in the total section.)) Liabilities Acc. Payable Unearned Revenue Note Payable Equipment $ 0 0 $ 0 0 0 0 0 0 0 0 0 0

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