Indicate the effects on the accounting equation of the following business transactions of Smith Service Corporation for b) to d) below. Use proper account titles. Transaction a) is answered as a guide

a) Received cash from Don Jones; issued common stock to him.
What will be an ideal response

Increase asset (Cash); Increase equity (Common Stock)

b) Purchased equipment; signed a note payable.
c) Performed services for a customer on account.
d) At the end of the first month, paid office rent.