Larry Power started a new business in the name of Power Bectrical on October 1, 2020. During October, a number of activities occurred and the following totals resulted at October 31, 2020 (shown in accounting equation format Buty Account office ortice Electrical Account Larry Cash Teceivable - topt. - Payable Capital $37,000+ 37.700 - $2.500 - 35.000 $17.500 $25,000 During November, the following occurred: Hov. Rented office space and paid cash for the month rent of 57.900 3 Thurohesed electrical equipment for $25,000 from an electrician who was going out of business, by using $13,500 in personal funds and agreeing to pay the wine i 30 days Purchased office supplies by paying 12.500 cash Nov. Completed electrical work and mediately collected $2.700 for doing the work Purchased $5,900 of office equipment on it. 15 completed electrical work on credit in the shant of $6,700. 16 Interviewed and hired a part-time wlectrician who will be paid $6,000 each month will begin work in the week. 18 Purchased $1,700 of office wupplies on credit. 20 Paid for the orice sunt purchased on November 26 Billed a client $5,150 for electrical work the balance is due in 30 days. 2 Received $5,700 for the work completed on November 15. 30. Paid the ottice assistant's salary of 55,100. 30 Taid the monthly utility bill of $4,300. 30 Pover withdrew $2,100 from the business for personal use. plastofty Nantes Tavetant by The following table shows the the effects of each November activity on the items in the equation Account office orie Metal Cash Receivable applies Ant LARRY Equip Dal. Oct. 31 $37,000 7,700 Tablet, $2,600 $35,000 919,500 $25,000 Nov. 1 - 7,900 313,500 7.900 3-13,500 +15,500 +$25.000 5- 2,500 2.500 6- 2,760 3.700 9 5.900 5,900 15 6.700 +4,700 16 10 1,700 1,700 20 - 5.900 5,90 20 5,150 30 - 6,700 6.700 - 5.100 30 - 5.100 300 30 0.000 100 30 2109 30.200 $10,600 103,450 940,900 912,850 142,500 $6,000 0121.450 war fear Balerie te expen Withdevall Next > 467