Question

Soo Lin, the sole stockholder, began an Internet Consulting practice organized as a corporation and completed these transactions during April of the current year:
April.1Invested $100,000 of her personal savings into a checking account opened in the name of the business.

2Rented office space and paid $1,200 cash for the month of September.

3Purchased office equipment for $30,000, paying $8,000 cash and agreeing to pay the balance in one year.

4Purchased office supplies for $750 cash.

8Completed work for a client and immediately collected $2,700 cash for the services.

15Completed $3,600 services for a client on credit.

20Received $3,600 from a client for the work completed on September 15.

30Paid the office secretary's monthly salary, $3,000 cash.

30The corporation paid a $2,000 dividend.

Show the effects of the above transactions on the accounting equation of Soo Lin, Consultant. Use the following format for your answers. The first item is shown as an example.
Increase = I Decrease = D No effect = N
DateAssetsLiabilitiesEquity
Example:


April 1INI
































Answer

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