Name: Amit Jaggi Date: 2022-01-26 Question 3 [30 points] Based on the following transactions, complete the...

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Name: Amit Jaggi Date: 2022-01-26 Question 3 [30 points] Based on the following transactions, complete the table shown below. a. A shareholder paid Allarco Inc. $40,000 cash for share capital in the business. b. Provided consulting services to a customer and collected $100. c. Allarco Inc. purchased $500 of equipment on credit. d. $400 of commissions were earned and collected today by Allarco Inc. e. Allarco Inc. used credit to purchase $3,250 of equipment. f. Allarco Inc. paid $500 for equipment purchased today. g. Allarco Inc. returned to the supplier $500 of equipment discovered to be defective. It was originally purchased on account in transaction (c). h. A client rented equipment for $7,000 cash. i. Provided consulting services to a customer and collected $300. j. Allarco Inc. paid dividends of $1,600 to the shareholders. To complete the table shown below, identify the headings for each column by clicking on the appropriate cell and making a selection. Use additions (+ sign) and subtractions (- sign) to show the t on the elements of the equation. Show new totals after each transaction (no + or - sign is required for totals). Also indicate next to each change in equity (in the explanation column) whether it wa issuance of share capital (investment), a revenue, an expense or payment of dividends. Identify revenues and expenses by name. If a transaction does not affect equity, no explanation is require Do not leave any balances blank, unless the balance is zero. (a) (b) Bal. (c) Bal. Assets = Liabilities Equity Explanation +Share Capital+Retained Earnings Name: Amit Jaggi Date: 2022-01-26 Question 3 [30 points] Based on the following transactions, complete the table shown below. a. A shareholder paid Allarco Inc. $40,000 cash for share capital in the business. b. Provided consulting services to a customer and collected $100. c. Allarco Inc. purchased $500 of equipment on credit. d. $400 of commissions were earned and collected today by Allarco Inc. e. Allarco Inc. used credit to purchase $3,250 of equipment. f. Allarco Inc. paid $500 for equipment purchased today. g. Allarco Inc. returned to the supplier $500 of equipment discovered to be defective. It was originally purchased on account in transaction (c). h. A client rented equipment for $7,000 cash. i. Provided consulting services to a customer and collected $300. j. Allarco Inc. paid dividends of $1,600 to the shareholders. To complete the table shown below, identify the headings for each column by clicking on the appropriate cell and making a selection. Use additions (+ sign) and subtractions (- sign) to show the t on the elements of the equation. Show new totals after each transaction (no + or - sign is required for totals). Also indicate next to each change in equity (in the explanation column) whether it wa issuance of share capital (investment), a revenue, an expense or payment of dividends. Identify revenues and expenses by name. If a transaction does not affect equity, no explanation is require Do not leave any balances blank, unless the balance is zero. (a) (b) Bal. (c) Bal. Assets = Liabilities Equity Explanation +Share Capital+Retained Earnings