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Larry Power started a new business in the name of Power Electrical on October 1, 2023 During October, a number of activities occurred and the

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Larry Power started a new business in the name of Power Electrical on October 1, 2023 During October, a number of activities occurred and the following totals resulted ot October 31,2023 (shown in accounting equation format): During November, the following occurred: Nov. 1 Rented office space and paid cash for the month's rent of 87,600 . 3 Purchased electrical equipaent for $22,000 from an electrician who kas going out of business, by using $12,000 in personal funds and agreeing to pay the balance in 30 days. 5 Purchased office supplies by paying $2,200 cash. 6 completed electrical work and inmediately collected $2,400 for doing the work. 8 Purchased $5,600 of office equipent on credit. 15 conpleted electrical work on credit in the amount of $6,400. 16 interviewed and hired a part-timo electrician who will be paid 85,700 each month. He will begin work in three weeks. Purchased $1,400 of office supplies on credit. 20 Paid for the office equipment purchased on November 8. 24 oilled a client \$5, eoe for electrical work; the balance is due in 30 days. 78 Aeceived 56,400 for the work completed on November 15 . 30 Paid the office assistant's salary of $4,800. 30 Paid the monthly utility bills of $4,060. 30 Power withdreu $1,800 from the business for persond use. Complete the following table. Use additions and subtractions to show the effects of each November activity on the items in the equation. For each change in equity, select whether the change was caused by an investment, a revenue, an expense, or a withdrawal Determine the final total for each item and venfy that the equation is in balance. (Enter all amounts as positive values, If the transaction/event does not affect equity or does not require a journal entry, select "No Affect on Equity" in the 'Explanation of equity transaction' field.)

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