Analyze the effects of the preceding events on the accounting equation of Mountain Estates Lte. Use a format similar to that in Exhibit 2-1, Panel B. At the end of the first month of operations, Jet has a number of questions about the financial standing of the business. Explain the following to him. a. How the business can have more cash than retained earnings. b. How much in total resources the business has, how much it owes, and what jets ownership interest is in the assets of the business. Record the transactions of the business in its journal. Include an explanation from entry During October. All Pets Veterinary Clinic Ltd completed the following transactions. The clinic uses the following accounts: Cash, Accounts Receivable Supplies, Land, Accounts Payable, Notes Payable, Share Capital, Dividends, Service Revenue, Salary Expense, Rent Expense, Utilities Expense, and Advertising Expense. Journalize each transaction of All Pets Veterinary Clinic Ltd. Explanations are not required. Prepare T-accounts for Cash, Accounts Payable, and Notes Payable, Post to these three accounts. After these transactions, how much cash does the business have? How much in total does it owe