1.6 Accounting equation (5) Below is statement of financial position information for two independent situations. Calculate the answer to each. A company reports an increase in assets of $1,700 and an increase in liabilities of $400. What is the amount of the change in shareholders' equity? A company reports an increase in liabilities of $500 and a decrease in shareholders' equity of $800. What is the amount of the change in total assets? 2.7 Statement of financial position The following are accounts of Mint Company's business as of September 30, 20x1: Notes payable $5,000; accounts receivable $1,500; cash $2,500; land $11,000; accounts payable $400; building $7,500; equipment $3,100; truck $2,800; mortgage payable $ : Capital $18,000. Required: Prepare a statement of financial position as of September 30, 20x1. 3.8 Journal entries (1) Journalize the following business transactions in general journal form. Identify each transaction by number. Shareholders invest $25,000 in cash for starting a business as a corporation. Purchased $500 of office supplies on credit. Purchased office equipment for $6.000, paying $3,500 in cash and issuing a 30 day, $2,500, note payable. Billed clients for $4,000 service revenue(not received yet). Paid $700 in cash for the current month's rent. Paid $250 cash for office supplies purchased on account in transaction Received a bill for $500 for advertising for the current month(not paid yet). Paid $2,500 cash for office salaries. Paid $1,200 cash dividends to shareholders. Received a check for $3,000 from a client in payment of an account receivable for services billed in transaction