Drag the account types to form the expanded accounting equation. Begin the equity section with capital. Then, identify whether the item increases, '+', or decreases, '-', equity. OOOO Owner, Capital Cash Owner, Withdrawals Accounts Receivable Accounts Payable Revenues : Expenses Unearned Revenues Assets Liabilities: 2 Enter the missing value to balance the equation. 40,000 + 28,000 10,000 + 29,000 6,000 78,000 = 47,000 34,000 + 46,000 7,000 52,000 = 31,000 - 4,000 + 22,000 40,000 Identify the part of the expanded accounting equation for each account title. Office Supplies Interest Expense Accounts Payable Owner, Capital Owner, Withdrawals Interest Revenue Build a T-account for each account title. Label the DR (debit), CR (credit), NB (normal balance), and "+" or "-". Debit: Credit Normal Balance Equipment Owner, Capital Owner, Withdrawals Insurance Expense Unearned Revenue Interest Revenue + + + + Assets Liabilities OOOOO Beginning of Year: $26,000 $17,000 End of Year: $62,000 $28,000 1) What is the equity at the beginning of the year? 2) What is the equity at the end of the year? Beginning Equity Ending Equity 3) If the owner contributes $8,600 and the owner withdraws $43,600, how much is net income (loss)? 4) If net income is $2,600 and owner withdrawals are $7,500, how much did the owner contribute (owner, capital)? Net Income (Loss) Owner, Capital 5) If the owner contributes $19,600 and net income is $16,900, how much did the owner withdraw (owner, withdrawals)? 6) If the owner contributes $43,500 and the owner withdraws $3,200, how much is net income (loss)? Owner, Withdrawals Net Income (Loss)