a. The owner (Alex Cart) Invested $16,200 cash in the company. b. The company purchased supplies for $800 cash. c. The owner (Alex Carr) invested $10,600 of equipment in the company, d. The company purchased $260 of additional supplies on credit. e. The company purchased land for $9,600 cash. Required: Enter the impact of each transaction on individual items of the accounting equation (Enter decreases to account balances with a minus sign.) Assets Liabilities Accounts Payable Equity A. Carr Withdrawals Cash Revenue Expenses Supplies + Land + Equipment A. Carr, Capital $ 16,200 + a $ - + . + b. 16,200 (800) + 15,400 + $ ++++ 800 + 800 + + 0 + 0 0 0 Bal 0 0 + 16,200 + + + c + $ 10,600 10,600 + 0 + 0 15,400 + 0 16,200 0 0 + Bal d + + 800 + 2600 1,060 + + $ 260 + 280 + 10,600 ol Bal 0 + 16,200 0 0 + 15,400 + (9,600) 5,800 + + . $ 9,600 9,600 = 1,060 + + 260 10,600 Bal. 0 0 16,200 - 0 4 On October 1, Ebony Ernst organized Ernst Consulting; on October 3, the owner contributed $84,920 in assets to launch the business. On October 31, the company's records show the following items and amounts. 3 of 3 Cash Accounts receivable Office supplies Land Office equipment Accounts payable Owner investments $ 8,450 Cash withdrawals by owner $ 2,930 14,910 Consulting revenue 14,910 4,080 Rent expense 4,420 46,020 Salaries expense 7,900 18,860 Telephone expense 860 9,280 Miscellaneous expenses 680 84,920 00:56:16 Using the above information prepare an October 31 balance sheet for Ernst Consulting, $ ERNST CONSULTING Balance Sheet As of October 31 Liabilities 8,450 Accounts payable 14,910 4,080 46,020 Equity 18,860 Emst, Capital $ Assets Cash Accounts receivable Office supplies Land Office equipment 9.280 9,280 83,040 Total assets $ 92,320 Total liabilities and equity $ 92,320