$1$ Question $6$ LO$8+$LO$9(25$ marks$)$

George Littlechild started a new kitchen and bath design business called Littlechild

$2$ Enterprises. The following activities occurred during its first month of operations,

$3$ March $202n.$

Littlechild invested $$160,000$ cash and office equipment valued at $$20,000$ in the

Purchased a small building for $$600,000$ to be used as an office. Paid $$100,000$ in cash

b$.$ and signed a note payable promising to pay the balance over several years.

$5$ c$.$ Purchased $$3,000$ of office supplies for cash.

$6$ d$.$ Purchased $$72,000$ of office equipment on credit.

Littlechild made reservations at a hotel hosting a kitchen and bath design conference in

e$.$ August $2020.$ He will send a $$1,000$ deposit on July $1,2020.$

f$.$ Completed a project on credit and billed the client $$5,200$ for the work.

g$.$ Paid a local online newspaper $$3,500$ for an announcement that the office had opened.

h$.$ Completed a project for a client and collected $$4,000$ cash.

i$.$ Made a $$4,000$ payment on the equipment purchased in $($d$).$

j$.$ Received $$2,500$ from the client described in $(f).$

k$.$ Paid $$7,000$ cash for the office secretary$\text{'}$s wages.

I. Littlechild withdrew $$3,600$ cash from the company bank account to pay personal living

$(1)$ Use the first table below to show the effects of the activities listed in $($a$)$ through $($i$).$ For each transaction that affects equity, include a brief description beside it $($owner investment, owner withdrawal, revenue, expense$).$ Determine the final total for each item and verify that the equation is in balance.