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Required information On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September
Required information On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts: Cash Accounts Receivable Office Equipment Canoe and Kayak Equipment Accounts Payable Shawn Dahl, capital Revenue Expenses Transactions 1. Shawn Dahl invested $45,900 in cash to open the business 2. Paid $13,600 in cash for the purchase of kayak and canoe equipment 3. Paid $1,500 in cash for rent expense 4. Purchased additional kayak and canoe equipment for $4,250 on credit 5. Received $4,350 in cash for kayak rentals 6. Rented canoes and kayaks for $1,650 on account 7. Purchased office equipment for $170 in cash 8. Received $1,025 in cash from credit clients 9. Shawn Dahl withdrew $1,950 in cash for personal expenses Based on the information above, complete the following accounting equation. Assets Liabilities 4.250 4,250 + Owner's Equity Required information The table below shows the transactions for Sawyer Architecture Services during June. Greg Sawyer opened this business on June 1 with a capital investment of $67,000 (Transaction 1). Assets -Liab.+ Owner's Equity Accts. Accts. G.Sawyer Capital +67,000 Transaction Cash Rec. Supp. Equip.Pay Rev Exp +67,000 - 7,200 +7,200 +4,200 +4,200 4 +2,680 +2,680 -3,000 -3,000 -570 6 7 + 570 -1,400 -1,400 +350 Bal 55,620 3,630350+9,8802,680+ 65,600 + 4,200-3,000 Prepare the statement of owner's equity for Sawyer Architecture Services for the month ended June 30, 2019 SAWYER ARCHITECTURE SERVICES Statement of Owner's Equity Month Ended June 30, 2019
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