Current Attempt in Progress Carla Vista Computer Corporation had the following opening account balances at the end of April: Cash $4,700; Accounts Receivable $6,400; Accounts Payable $1,900; Common Shares $4,800; and Retained Earnings $4,400. It entered into the following transactions during the month of May: 2. 1. Purchased equipment on account for $8,300. Paid $1,600 for rent for the month of May. 3. Provided computer services for $3,400 on account Paid Ontario Hydro $200 cash for utilities used in May. 4. 5. Borrowed $19.900 from the bank. 6. N 8. Paid supplier for equipment purchased in transaction 1. Purchased a one-year accident insurance policy for $600 cash. Received $2,700 cash in partial payment of the account owed in transaction 3. Declared and paid $500 of dividends to shareholders. Paid income tax of $260 for the month 9. 10. Prepare an equation analysis of the effects of the opening balances and above transactions on the expanded accounting equation. (If a transaction causes decrease in Assets, Liabilities or Shareholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equl item that was reduced. See Illustration 3-3 for example.) Assets decrease in Assets, Liabilities or Shareholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.) Assets Transaction Cash Accounts Receivable Prepaid Insurance Equipment Accounts Apr. 30 Bal. $ $ $ $ $ 1 8300 2. 3. 5. 6. 7. 8. 9. 10. Total $ Datarmine the total assets and the total liabilities and shareholders' equity. of the opening balances and above transactions on the expanded accounting equation of a transaction causes a decrease in Assets, Liabilities or Shareholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced. See Illustration 3-3 for example.) Liabilities Equipment Accounts Payable Bank Loan Payable Common Shares Balance $ $ $ $ 8300 $ the opening balances and above transactions on the expanded accounting equation. Of a transaction coussa Nase in Assets, Liabilities or Shareholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity that was reduced. See Illustration 3-3 for example.) Shareholders' Equity Retained Earnings Common Shares Balance Revenues Expenses Dividends Declared $ $ $ $ $ $ $ Determine the total assets and the total liabilities and shareholders' equity. Total Assets $ Total Liabilities and Shareholders' Equity $ Save for Later * Previous