Help with basic accounting questions (4-19)
Kahl Enterprises had the following cash in selected transactions.
1. Jo Kahal invested $5,043 cash in the business.
2. Paid office rent of $1,198.
3. Performed consulting services and billed a client $6,556.
4. Jo Kahl withdrew $946 cash for personal use.
Indicate the effect each transaction has on the accounting equation, using plus and minus signs.
Assets = Liabilities + Owner’s Equity