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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 1,2023. During October, a number of activities occurred and the following totals resulted at 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 $7,300.
3 Purchased electrical equipment for $19,000 from an electrician who was going out of business, by using $10,500 in personal funds and agreeing to pay the balance in 30 days.
6 Completed electrical work and immeding $1,900 cash.
8 Purchased $5,300 of office equipment on credit. $2,100 for doing the work.
15 Completed electrical work on credit on credit.
16 Interviewed and hired a part-time electrician who will 18 in three weeks.
24 Billed a client $4,850 for electrical 28 for
30 Paid the office assistant's salary of $4,500.
30 Paid the monthly utility bills of $3,700.
30 Power withdrew $1,500 from the business for personal use.
The following table shows the effects of each November activity on the items in the equation.
\table[[Bal.,,Cash,,Office,Office,,,,],[\table[[Oct.31],[Nov.1]],\table[[$31,000
2. Using the above information, prepare a statement of changes in equity
3. Using the above Information, prepare a balance sheet
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