Final answer:
Ace Cleaning Services experiences an increase in cash and owners' equity due to receiving $2,000 for cleaning services. There is no change to accounts receivable as the payment was made in cash, and owners' equity increases due to earning revenue.
Step-by-step explanation:
When Ace Cleaning Services receives $2,000 in cash for performing services, two things happen on the balance sheet. First, there is an increase in cash, which is an asset. This reflects the money received for the service provided. Second, there is an increase in owners' equity, specifically in the revenue account which is a part of owners' equity. This is because the revenue represents an earning from the services, which increases the total equity of the owners in the company.
Therefore, the correct effects on the balance sheet equation due to the transaction would be (e) increase cash and (f) increase owners' equity. There would be no decrease in cash since cash is being received, not paid out. There would not be any change to accounts receivable because the service was paid for in cash, meaning there is no future amount to be received. Lastly, owners' equity would not decrease, as the transaction represents income for the business, which actually increases equity.