Jack Allen, a graduate in childcare services, wants to open a daycare under the name Little Wolves.

Here are the transactions relating to his company until September 18, 2018:

Sept 01: Jack personally borrows $15,000 from his mother and deposits this sum at Banque Borale in an account established in the name of Little Wolves.

Sept 01: Purchase on credit of a set of children's toys from Toys Games Inc. for the sum of $3,000 (invoice no. 2715).

Sept 06: Bank loan of $9,000 from Banque Borale on behalf of Little Wolves.

Sept 08: Issuance of check no. 1 for $1,000 & Toys games Inc., in partial payment of invoice no. 2715 of September 1, 2018.

Sept 10: Cash purchase (check No. 2) of desks and chairs for a total of $4,500. The actual value of the furnishings is $7,500.

Sept 12: Purchase of swings on credit: $1,000.

Sept 14: Purchase by check (No. 3) of educational games: $2,000.

Sept 16: Electronic transfer of $300 made to repay part of the bank loan (line of credit).

Sept 18: Payment (cheque No. 5) of the amount due to Toys games Inc. Regarding invoice No. 2715.

Job to do.

a) Present the table of the effect of transactions on the accounting equation using the following accounts: Cash, Equipment, Office furniture, Bank loan (line of credit), Suppliers and Jack Allen capital.

b) Prepare the balance sheet for Little Wolves as of September 30, 20X8, assuming that there were no other transactions during the month of September.

A)

	Assets								Liabilities + Owners Equity
Date	Cash	+	Equipment	+	office equipment	=	Bank loan	+	Accounts payable	+	Jack Allen Capital
Sept 01		+		+		=		+		+
Sept 01		+		+		=		+		+
Sept 06		+		+		=		+		+
Sept 08		+		+		=		+		+
Sept 10		+		+		=		+		+
Sept 12		+		+		=		+		+
Sept 14		+		+		=		+		+
Sept 16		+		+		=		+		+
Sept 18		+		+		=		+		+
Balance		+		+		=		+		+
Total						=

B)

Little Wolves Scale Sheet Year-end September 30, 2018
Assets		Liabilities
Cash		Bank loan
Equipment		accounts payable
office equipment		Total Liabilities
		Owner's equity
		Jack Allen Capital
Total assets		Total Liabilities and owner's equity