Christopher thompson started a new business, thompson gymnastics, and completed the following transactions during december: (click the icon to view the transactions.) analyze the effects of the transactions on the accounting equation of thompson gymnastics. analyze the events chronologically, one transaction at a time, beginning with the transaction on the 1st. for each transaction that follows the transaction on the 1st, calculate the balance in each account after analyzing its effect on the accounting equation. (complete only the necessary answer boxes for your transaction lines. [do not enter any zeros for your transaction lines.] carry down all balances to the "bal." line, including zero balance accounts, entering a "0" for any zero balances. enter a decrease in an account with a minus sign or parentheses. abbreviations used: a/p = accounts payable; a/r = accounts receivable; adv. = advertising; com. = common; contr. = contributed; div. = dividends; exp. = expense; liab. = liabilities; off. sup. = office supplies; sal. = salaries; serv. rev. = service revenue; util. = utility.)

Ming chen began a professional practice on june 1 and plans to prepare financial statements at the end of each month. during june, ming chen (the owner) completed these transactions. a. owner invested $61,000 cash in the company along with equipment that had a $25,000 market value. b. the company paid $1,900 cash for rent of office space for the month. c. the company purchased $15,000 of additional equipment on credit (payment due within 30 days). d. the company completed work for a client and immediately collected the $2,100 cash earned. e. the company completed work for a client and sent a bill for $7,000 to be received within 30 days. f. the company purchased additional equipment for $5,500 cash. g. the company paid an assistant $3,000 cash as wages for the month. h. the company collected $5,200 cash as a partial payment for the amount owed by the client in transaction e. i. the company paid $15,000 cash to settle the liability created in transaction c. j. owner withdrew $1,500 cash from the company for personal use. required: enter the impact of each transaction on individual items of the accounting equation. (enter decreases to account balances with a minus sign.)

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Both a demand curve and a demand schedule show how a. prices affect consumer demand. b. consumer demand affects income. c. prices affect complementary goods. d. consumer demand affects substitute goods.