Please answer all questions thank you and I will like if all answers are correct

Jan 4 Gayland Jet, the major shareholder of the company, received $109,000 cash from an inheritance. 5 Jet deposited $51,000 cash in a new business bank account titled Mountain View Estates Ltd. The business issued common shares to Jet. 6 The business paid $1,000 cash for letterhead stationery for the new office. 7 The business purchased office furniture. The company paid cash of $8,000 and agreed to pay the account payable for the remainder, $9,000, within three months. 10 Jet sold ABC shares, which he owned for several years, receiving $76,000 cash from his stockbroker. 11 Jet deposited the $76,000 cash from the sale of the ABC shares in his personal bank account. 12 A representative of a large company telephoned Jet and told him of the company's intention to put a down payment of $15,000 on a lot. 18 Jet finished a real estate deal on behalf of a client and submitted his bill for services, $3,500. Jet expects to collect from this client within two weeks. 21 The business paid half its account payable for the furniture purchased on January 7. 25 The business paid office rent of $500. 31 The business declared and paid a cash dividend of $2,200. Requirement 1. Classify each of the transactions as either "a" a business-related event but not a transaction to be recorded by the business, "b" a personal transaction for a shareholder not recorded by the business, or "c" a business transaction to be recorded by the business. Jan 4 5 6 7 10 11 12 18 21 25 31 Requirement 2. Analyze the effects of the events on the accounting equation of Mountain View Estates Ltd. Enter the transactions in the accounting equation, beginning with Jan 4. For transactions that affect shareholders' equity, select the type of equity transaction. After all transactions have been entered, calculate the ending balance of each account and the total assets and total liabilities and shareholders' equity. (Use parentheses or a minus sign when decreasing accounts. Only complete the necessary answer boxes, leaving unused cells blank.) Assets Liabilities Shareholders' Equity + Accounts Office Accounts Common Retained Type of Equity Cash + Receivable + Supplies + Furniture IL Payable + Shares + Earnings Transaction Jan 4 + + + II + + Jan 5 + + + + + Jan 6 + + + = + + Jan 7 + + + = + + Jan 10 + + + + + Jan 11 + + + + + Jan 12 + + + II + + Jan 18 + + + = + + Jan 21 + + + = = + + Jan 25 + + + = + + Jan 31 + + + = + + Bal + + + II + + Total Requirement 3. At the end of the first month of operations, Jet has a number of questions about the financial standing of the business. Explain the following to him: a. How the business can have more cash than retained earnings. The business has $ in cash. The cash balance takes into consideration including cash received from the issuance of shares. Share issuances go into the Common Shares account, which Retained Earnings. Retained Earnings, on the other hand, holds the amounts of the revenues and the expenses, which received or paid in cash. Therefore, there relationship between cash and retained earnings. b. How much in total resources the business has, how much it owes, and what Jet's ownership interest is in the assets of the business. The business's total resources are $ The business owes total liabilities of $ Jet's ownership interest in the assets of the business is $ a. How the business can have more cash than retained earnings. The business has $ in cash. The cash balance takes into consideration , including cashr other hand, holds the amounts of the revenues and the expenses, which efore, t b. How much in total resources the business has, how much it owes, and w busine The business's total resources are $ all amounts owed to the business The business owes total liabilities of $ all amounts received from all sources Jet's ownership interest in the assets of the business is $ Retained Earnings Requirement 3. At the end of the first month of operations, Jet has a number of questions about the financial standing of the business. Explain the following to him: a. How the business can have more cash than retained earnings. The business has $ in cash. The cash balance takes into consideration including cash received from the issuance of shares. Share issuances go into the Common Shares account, which Retained other hand, holds the amounts of the revenues and the expenses, which received or paid in cash. Therefore, there relationship between cash and retained earnings. b. How much in total resources the business has, how much it owes, and what Jet's ownership interest is in the assets of the business. The business's total resources are $ has nothing to do with The business owes total liabilities of $ is part of a. How the business can have more cash than retained earnings. The business has $ in cash. The cash balance takes into consideration other hand, holds the amounts of the revenues and the expenses, which received or paid in c b. How much in total resources the business has, how much it owes, and s in the ass The business's total resources are may be The business owes total liabilities of $ may or may not be Jet's ownership interest in the assets of the business is $ Requirement 4. Record the transactions of the business in its journal. Inc may not be ntry. (Reco including cash received from the issuance of shares ash. Therefore, there relationship between ca ets of the business. is a is no Requirement 4. Record the transactions of the business in its joumal. Include an explanation for each entry. (Record debits first, then credits. Enter explanations on the last line of the journal.) Let's start with the January 5th transaction. Jet deposited $51,000 cash in a new business bank account titled Mountain View Estates Ltd. The business issued common shares to Jet. Journal Entry Accounts and Explanations Date Debit Credit Jan Now record the January 6th transaction. The business paid $1,000 cash for letterhead stationery for the new office. Journal Entry Date Accounts and Explanations Debit Credit Jan Next, record the January 7th transaction. The business purchased office furniture. The company paid cash of $8,000 and agreed to pay the account payable for the remainder, $9,000, within three months. Journal Entry Accounts and Explanations Date Debit Credit Jan Finally, record the January 31th transaction. The business declared and paid a cash dividend of $2,200. Journal Entry Date Accounts and Explanations Debit Credit Jan