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:
Group Members
Individuals who belong to a specific group, sharing common goals or interests.
Dual Leadership
A leadership model in which two individuals share the responsibility, authority, and accountability of leading an organization or team.
Middle Phase
A stage or period that falls between the beginning and the end of a process, project, or lifespan, often characterized by development and growth.
New Knowledge Skills
The acquisition and application of new abilities and expertise, particularly in adapting to technological advancement or changes in a field of study or work.
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