Show the Effects of Each Transaction on the Accounting Equation $\$ 20,000$

Essay

Show the effects of each transaction on the accounting equation by indicating under the proper heading the dollar amount of increase or decrease for each transaction listed below.Compute the resulting accounting equation.
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a. Owner deposited $\$ 20,000$ in his new business checking account.
b. Supplies were purchased for $\$ 300$ on account.
c. Paid a $\$ 1,200$ premium for six months of liability insurance.
d. Purchased supplies for $\$ 200$ cash.
e. Purchased equipment for $\$ 4,000$ by paying $\$ 1,000$ ; the rest to be paid in six months.
f. Paid the $\$ 300$ bill outstanding (from transaction $b$ ).
g. Owner withdrew $\$ 700$ from the business for personal use.