Question

hello I need help on the accounting equation portion. I add the balance sheet for refrence
29% of available points for each transaction, indicate the impact on total assets, total liabilities and total equity. Enter decreases as negative values. If there is no impact, leave the cell blank. The system will calculate the cumulative amounts the bottom row. Upon completion, compare the totals to the balance sheet. Is your accounting equation in balance? Balance Sheet Total Assets = Total Liabilities + Total Equity June 1 Jenna Davis invested $40,000 cash to start the business. June 2 Issued Check 201 for $2,000 to pay the June rent for the office. June 3 Purchased desk and other office furniture for $12,000 from Lowe's Office Supply, Invoice 5103; issued Check 202 for a $2,000 down payment with the balance due in 30 days. June 4 Issued Check 203 for $1,700 for supplies. June 6 Performed services for $7,000 in cash. June 7 Issued Check 204 for $3,000 to pay for advertising expense. June 8 Purchased recording equipment for $15,000 from Special Moves, Inc., Invoice 2122; issued Check 205 for a down payment of $5,000 with the balance due in 30 days. June 10 Performed services for $5,500 on account. June 11 Issued Check 206 for $3,000 to Lowe's Office Supply as payment on account. June 12 Performed services for $10,000 in cash.

Answer 1

		Balance Sheet
	Total Assets=	Total Liabilities	+ Total Equity	Reason
June.1	40,000		40,000
June.2	-2,000		-2,000
June.3	10,000	10,000		(12,000 - 2,000)
June.4 ( No Impact )				Increase in Supplies & Decrease in cash.
June.6	7,000		7,000
June.7	-3,000		-3,000
June.8	10,000	10,000		(15,000 - 5,000 )
June.10	5,500		5,500
June.11	-3,000	-3,000
June.12	10,000		10,000
June.15	-6,200		-6,200
June.18 ( No Impact )				Increase in cash & Decrease in accounts Receivable
June.20	-6,000	-6,000
June.25	-375		-375
June.27	-980		-980
June.28	-5,000		-5,000
June.30	-6,200		-6,200
Total	49,745	11,000	38,745