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Larry Power started a new business in the name of Power Electrical on October 1, 2020. 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, 2020. During October, a number of activities occurred and the following totals resulted at October 31, 2020 (shown in accounting equation format): Cash 333,000 - Assets Accounts office Receivable Supplies. 37,300 + $2,200 Office Equip. 331,000 - Electrical Equip $15,500 Liabilities Accounts Payable $21,000 Equity Larry Power Capital $68,000 During November, the following occurred: NO Nov. 1 tented office space and paid cash for the month's rent of 57,500 Purchased electrical equipment for $21,000 from an electrician who was going out of business, by using $11,500 in personal funds and agreeing to pay the balance in a days. 5 Purchased office supplies by paying 52,100 cash 6 Completed electrical work and Indiately collected $2,300 for doing the work Purchased 15,500 of office equipment on credit 15 Completed electrical work on credit in the wount of so, 16 Interviewed and hired part-time electrician who will be paid 35, ach month will be work in three we 11 Purchased $1,100 of office supplies on credit 20 Paid for the office equipment purchased on November 24 Billed 'clit 4,9 for lectrical work the base de dat 2 Heceived 56.300 for the worstolated on November 15 said the office statsry 14.7 Paid the monthly vtility of 53, Power withdrew from the bottom Required: 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 revenge on edence of a window Determine the final total forcoh tom and verify that the equations in balance inter all amounts o positive value of the transaction/event does not affect equity or do not requires journal entry, select "No Affect on tourty" in the nation of culty transaction field) Liabile + Cash Accounts Recewable Office Supplies Office Equip Electrical En Accounts Payable Equity Lany Power Capital $ 68,000 Explanation of Equity Transaction Bal Oct 311 33,000 3 7.300 5 2.2001 5 31,000 $ 15,500 $ 21,000+ Nov. 1 3 3 8 0 15 15 18 24 20 30 30 30

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