(Solution) - Rowand Enterprises had the following selected transactions 1 A -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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Rowand Enterprises had the following selected transactions.
1. Aaron Rowand invested $4,000 cash in the business.
2. Paid office rent of $1,100.
3. Performed consulting services and billed a client $5,200.
4. Aaron Rowand withdrew $700 cash for personal use.
Instructions
(a) Indicate the effect each transaction has on the accounting equation
(Assets = Liabilities + Owner?s Equity), using plus and minus signs.
(b) Journalize each transaction. (Omit explanations.)