Rafe Smeldon opens an apartment-locator business near a college campus. The company will be named Regal Realty. During the first month of operations, July 2024, the business completes the following transactions: (Click the icon to view the transactions.) Read the requirements Requirement 1. Analyze the transactions in terms of their effects on the accounting equation of Regal Realty Analyze the events sequentially, one transaction at a time, beginning with transaction (a), then transaction (b), and so on. For each transaction that follows transaction (a), calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account after transaction (9), calculate total assets and total liabilities and equity. (Complete only the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.) Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Use a minus sign or parentheses for amounts that result in a decrease in cash. Abbreviation used: Liab. = Liabilities) ASSETS LIAB. EQUITY Contributed Capital + Retained Earnings Cash + Office + Land = Accounts + Common - Dividends + Service Rent Utilities Supplies Payable Stock Revenue Expense Expense (a) + + + + + (Click the icon to view the transactions.) ead the requirements cequirement 1. Analyze the transactions in terms of their effects on the accounting equation of egal Realty analyze the events sequentially, one transaction at a time, beginning with transaction (a)then ransaction. Ibland.se on For each transaction that follows transaction (al calculate the balance in each * Requirements . nce X only ofead he ni Lines any zero Abbre 1. Analyze the transactions in terms of their effects on the accounting equation of Regal Realty 2. Prepare the income statement, statement of retained earnings, balance sheet, and statement of cash flows of the business after recording the transactions. 3. Calculate the return on assets (ROA). ities Print Done ense (a) More Info - X a. Receives a $25,000 contribution from Rafe Smeldon and issues common stock to Rafe Smeldon b. Purchases $400 of office supplies on account. c. Pays cash of $15,000 to acquire a lot next to campus d. Locates apartments for clients and receives cash of $2,100 e. Pays $350 on the accounts payable the business created in Transaction (b), f. Pays cash expenses for office rent, $1,000, and utilities, $50. 9. Pays cash dividends of $800 to stockholders. Print Done