A service proprietorship shows five transactions summarized below. The effect of each transaction on the accounting equation is shown and also the new balance of each item in the equation. For each transaction (a) to (e) write an explanation of the nature of the transaction. 
Definitions:
University Administrators
Individuals who manage the operational aspects of colleges and universities, overseeing functions like academics, student affairs, and finance.
Political Dissent
The expression of disagreement or opposition to the prevailing political policies or practices.
Professional Credentials
Qualifications or certifications that demonstrate an individual's specialized knowledge, skills, or competencies in a particular profession.
Professionalization
The process of developing or transforming a vocation or occupation into a recognized profession, often involving the establishment of formal qualifications, ethical standards, and a regulatory body.
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