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I am having trouble figuring out how to compute owner's equity+liabilities= assets. Shawn started a business for canoe and kayak rentals. The transactions are as

I am having trouble figuring out how to compute owner's equity+liabilities= assets.

Shawn started a business for canoe and kayak rentals.

The transactions are as follows:

  1. Shawn invested $44000 in cash to open a business.
  2. Paid $11700 in cash for the purchase of kayak and canoe equipment.
  3. Paid $2050 in cash for rent expense
  4. Purchased additional kayak and canoe equipment for $4800 on credit.
  5. Received $4900 in cash for kayak rentals
  6. Rented canoes and kayaks for $2200 on account
  7. Purchased office equipment for $225 in cash
  8. Received $1300 in cash from credit clients
  9. Shawn withdrew $2500 in cash for personal expenses.

The liabilities is $4800, because that is owed. How do I compute the assets and the owners equity?

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