E$3-20($Algo$)$ Analyzing, Recording, and Evaluating the Effects of Income Statement Transactions $[$LO $3-3,$ LO $3-4,$ LO $3-5]$

$[$The following information applies to the questions displayed below.$]$

MyBnB started a home rental company on January $1.$ As of November $30,$ MyBnB reported the following balances. The company does not yet have a balance in Retained Earnings because this is its first year of operations so no net income has been reported in prior years.

$\backslash$table$[[$Accounts Payable,$$660,$Equipment,$$5,280$