Assume john sullivan completed the following additional transactions during february.
(e) received cash from a client for professional services, $1,500.
(f) paid office rent for february, $600.
(g) paid february phone bill, $64.
(h) withdrew cash for personal use, $1,000.
(i) performed services for clients on account, $750.
show the effect of each transaction on the basic elements of the expanded accounting equation: assets = liabilities + owner's equity (capital- drawing revenues - expenses).

(e) assets (cash) increase by 1,500

          Owner's Equity/Revenues (fees earned) increase by 1,500

(f) Owner's Equity/Expense (rent expense) increase by 750

          Assets (cash) decrease by 750

(g) Owner's Equity/Expense (utilities expense) increase by 64

           Assets (cash) decrease by 64

(i) Assets (Account Receivable) increase by 1,500

          Owner's Equity/Revenues (fees earned) increase by 750

Explanation:

Each transaction should at least be compose by 2 accounts, and it will need to be balance,

We must understand that while expenses decrease the equity the amount of expenses is, increasing when an expense is recognized.

hi : ) i found this so i hope this !

"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

the correct answer is b.)