Question

-4b Save Score: 0 of 35 pts 1 of 1 (0 complete) HW Score: 0%, 0 of 35 p PF1-46A (similar to) Question Help Al Shine recently opened his own accounting firm on April 1, which he operates as a corporation. The name of the new entity is Al Shine, CPA. Shine experienced the following events during the organizing phase of the new business and its first month of operations in 2024: (Click the icon to view the transactions.) Read the requirements Requirement 1. Analyze the effects of the events on the accounting equation of Al Shine, CPA. Use the following accounts: Cash, Accounts Receivable, Office Supplies, Furniture, Accounts Payable, Common Stock Dividends, Service Revenue, Rent Expense, and Utilities Expense. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 5th. For each transaction that follows the transaction on the 5th, calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account on the 30th, calculate total assets and total liabilities and equity. Olete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines. Carry down all balances to the "Bal." line, including zoro balance accounts, entering a "O" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used: AVP - Accounts Payable; AR - Accounts Receivable; Com. - Common; Contr. Contributed; Div. - Dividends; Exp. - Expense; Furn. - Furniture, LikeLiabilities: Rev. - Revenue; Sup. - Supplies: Util. - Utilities.) ASSETS LIAB EQUITY Contr. Cap. Retained Earnings Cash AJR + Office Furn AP + Com Div. + Service Rent Util Sup Stock Rev. Exp Exp 4/5 + + + + + Enter any number in the edit fields and then click Check Answer 13 parts Clear All Check Answer remaining

Answer 1

Assets = Liabilities + Equity

(Note : Since no amount is given in the question and without any additional information,I have given an illustration of accounting equation)

Account balances:

Cash =100000

Account receivable = 65000

Office supplies =130000

Furniture =110000

Account payable =100000

Common stock =400000

Divided =50000

Service revenue=10000

Rent expense =25000

Utilities expense =30000

Cash +account receivable +office supplies +furniture = account payable +common stock -dividend +service revenue-rent expenses-utilities expense

100000+65000+130000+110000 = 100000+

400000 - 50000 + 10000 - 25000 -30000