Question

w History Bookmarks People Tab Window Help eu Assignments. ACCT-2301-038 H Chapter 3 Homework (Algo) X Update Do you nnect.mheducation.com mati... Gmail Maps YouTube iCloud Upgrade using ic lomework (Algo) Help Save & Exit Check my work Required information [The following information applies to the questions displayed below.) On September 1, Pat Hopkins established Ona Cloud Corporation (OCC) as a provider of cloud computing services. Pat contributed $15,000 for 1,500 shares of OCC. On September 8, OCC borrowed $22,000 from a bank, promising to repay the bank in two years. On September 10, OCC wrote a check for $17,000 to acquire computer equipment. On September 15, OCC received $1,550 of supplies purchased on account and, on September 16, paid $1,550 for September rent. Through September 22, OCC provided its customers $11,850 of services, of which OCC collected $7.450 in cash. On September 28, OCC paid $615 for Internet and phone service this month. On September 29, OCC paid wages of $5,800 for the month. Finally, on September 30, OCC submitted its electricity meter reading online and determined that the total charges for the month will be $780. This amount will be paid on October 14 through a preauthorized online payment Required: 1. Indicate the accounting equation effects of the September events, using table below. (Enter any decreases to account balances with a minus sign.) Assets Liabilities

Answer 1

Explanation:There is several ways you can make the table for Accounting equations, From the below table you can also calculate credit the Retained earnings once you calculate services revenue - expenses But in this table its very easy to understand and it shows every transaction

Date	Assets			=	Liability			+	Equity
													Accounts receivables	Cash	Supplies		Borrowings	Accounts payable			Capital	Service Revenue	Expenses
September 1		15,000							15,000
September 8		22,000			22,000
September 10			No need for recording since transaction as not yet taken place
September 15			1550			1550
September 16		-1550									-1550
September 22	4400	7450								11850
September 28		-615									-615
September 29		-5800									-5800
September 30						780					-780
	Total	42435		=		24,330		+		18,105