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Larry Power started a new business in the name of Power Electrical on October 1 , 2 0 2 3 . During October, a number
Larry Power started a new business in the name of Power Electrical on October During October, a number of activities occurred and the following totals resulted at October shown in accounting equation format:
During November, the following occurred:
Nov. Rented office space and paid cash for the month's rent of $
Purchased electrical equipment for $ from an electrician who was going out of business, by using $ in personal funds and agreeing to pay the balance in days.
Completed electrical work and immeding $ cash.
Purchased $ of office equipment on credit. $ for doing the work.
Completed electrical work on credit on credit.
Interviewed and hired a parttime electrician who will in three weeks.
Billed a client $ for electrical for
Paid the office assistant's salary of $
Paid the monthly utility bills of $
Power withdrew $ from the business for personal use.
The following table shows the effects of each November activity on the items in the equation.
tableBalCash,,Office,Office,,,,tableOctNovtable$
Using the above information, prepare a statement of changes in equity
Using the above Information, prepare a balance sheet
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