Question

Required information On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts: Part 2 of 2 Cash Accounts Receivable Office Equipment Canoe and Kayak Equipment Accounts Payable Shawn Dahl, Capital Revenue points Expenses Transactions 1. Shawn Dahl invested $44,100 in cash to open the business 2. Paid $11.800 in cash for the purchase of kayak and canoe equipment 3. Pald $2,000 in cash for rent expense 4. Purchased additional kayak and canoe equipment for $4,750 on credit 5. Received $4,850 in cash for kayak rentals 6. Rented canoes and kayaks for $2,150 on account 7. Purchased office equipment for $220 in cash 8. Received $1275 in cash from credit clients 9. Shawn Dahl withdrew $2.450 in cash for personal expenses Based on the information above, complete the following accounting equation Owner's Equity Assets

Answer 1

	Assets				=	Liabilities	+	Owner's Equity
	Cash	Accounts Receivable	Office Equipment	Canoe and Kayak Equipment	=	Accounts Payable	+	Shawn Dahl, Capital	Revenue	Expenses
1	$              44,100				=		+	$                  44,100
Balance	$              44,100	$                             -	$                        -	$                                          -	=	$                       -	+	$                  44,100	$                 -	$                 -
2	$            -11,800			$                                 11,800	=		+
Balance	$              32,300	$                             -	$                        -	$                                 11,800	=	$                       -	+	$                  44,100	$                 -	$                 -
3	$              -2,000				=		+			$        -2,000
Balance	$              30,300	$                             -	$                        -	$                                 11,800	=	$                       -	+	$                  44,100	$                 -	$        -2,000
4				$                                   4,750	=	$                4,750	+
Balance	$              30,300	$                             -	$                        -	$                                 16,550	=	$                4,750	+	$                  44,100	$                 -	$        -2,000
5	$                4,850				=		+	$                           -	$          4,850	$                 -
Balance	$              35,150	$                             -	$                        -	$                                 16,550	=	$                4,750	+	$                  44,100	$          4,850	$        -2,000
6		$                      2,150			=		+		$          2,150
Balance	$              35,150	$                      2,150	$                        -	$                                 16,550	=	$                4,750	+	$                  44,100	$          7,000	$        -2,000
7	$                  -220		$                     220		=		+
Balance	$              34,930	$                      2,150	$                     220	$                                 16,550	=	$                4,750	+	$                  44,100	$          7,000	$        -2,000
8	$                1,275	$                     -1,275			=		+
Balance	$              36,205	$                          875	$                     220	$                                 16,550	=	$                4,750	+	$                  44,100	$          7,000	$        -2,000
9	$              -2,450				=		+	$                  -2,450
Balance	$              33,755	$                          875	$                     220	$                                 16,550	=	$                4,750	+	$                  41,650	$          7,000	$        -2,000

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