Question

1.
Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, '+', or decreases, '", equity. Common Stock : Assets : Cash : Dividends : Accounts Receivable Accounts Payable Revenues Liabilities: Expenses Unearned Revenues
2.3.4.5.

Answer 1

part 1 accounting equation

cash +	accounts receivables	=	accounts payable+	unearned revenue+	contributed capital	+	retained earnings
					common stock+		(-)dividends
							(+)revenue
							(-)expenses

missing balance

part 1

on solving the equation we get = $22000

part 2

on solving the equation we get = $45000

part 3

on solving the equation we get = $4000

part 3 of the question

prepaid insurance	assets
dividends	retained earnings - stockholders equity
notes payable	liabilities
common stock	contributed capital - stockholders equity
insurance expenses	retained earnings - stockholders equity
service revenue	retained earnings - stockholders equity

Part 5 of the question (please note all the figures are in $)

part 1 and part 2

	beginning of the year ($)	ending of the year ($)
assets	25000	63000
liabilities	19000	25000
equity (difference)	6000	38000

part 3

beginning equity	6000
add:issuance of stock	6200
add: net income	?
sub total	?
less: dividend	43000
ending equity	38000
sub total (43000+38000)	81000
net income (81000-6000-6200)	68800

part 4

closing capital + dividend =	common stock + net income
38000+8900	common stock + 2400
common stock	44500

part 5

closing capital + dividend =	opening capital + common stock issued + net income
38000+dividend	6000+18400+17200
dividend	3600

part 6

closing capital + dividend =	opening capital + common stock issued + net income
38000+1800	6000+43800+net income(loss)
net income (loss)	-10000

Dr.	building	Cr.		Dr.	common stock	Cr.		Dr.	dividends	Cr.
(+)		(-)				(+)
Dr.	supplies expense	Cr.		Dr.	accounts payable	Cr.		Dr.	interest revenue	Cr.
				(-)		(+)