Submit 5 Help Save & Exit Larry Power started a new business in the name of Power Electrical on October 1, 2020. During October, a number of activities occurred and the following totals resulted at October 31, 2020 (shown in accounting equation format): Assets Liabilities + Equity Account office Office Electrical Account Casa + Receivable Supplies - Tarry Power Equip. + Equip. Payable Capital $39,000+ $7,900 + $2,800 + $37,000+ $19,500 $27,000 + 578,200 During November, the following occurred: Nov 1 Ranted office space and paid cash for the month rent of $8,100. 3 Purchased electrical equipment for $27,000 from an electrician who was going out of business, by using $14,500 in personal funds and agreeing to pay the balance in 30 days. 5 Purchased office supplies by paying $2,700 cash. Nov. 6 Completed electrical work and immediately collected $2,900 for doing the work. @ Purchased $6,100 of office equipment on credit. 15 Completed electrical work on credit in the amount of $6,900. 16 Interviewed and hired a part-time electrician who will be paid $6,200 each month. He will begin work in three weeks. 18 Purchased $1,900 of office supplies on credit. 20 Paid for the office equipment purchased on November 8. 24 Billed a client $5,250 for electrical work; the balance in due in 30 days. 28 Received $6.900 for the work completed on November 15. 30 Paid the office assistant's salary of $5,300. 30 Paid the monthly utility bills of $4,500. 30 Power withdrew $2,300 from the business for personal use. Required: Complete the following table. Use additions and subtractions to show the effects of each November activity on the items in the equation. For each change in equity, select whether the change was caused by an investment, a revenue, an expense, or a withdrawal. Determine the final total for each item and verify that the equation is in balance. (Enter all amounts as positive values. If the transaction/event does not affect equity or do not require a Journal entry, select "No Affect on Equity" in the 'Explanation of equity transaction' field.) Assets Cash Accounts Receivable Office Supplies Office Equip Electrical Equip Liabilities Accounts Payable Equity Lar Power Capital Explanation of Equity Transactio Bal. Oct 31 $ 39,000 $ 7,900 $ 2,800 $ 37,000 $ 18,500 $ 27,000 $ 70,200