Question
What is the answer to 1 2 and 3? On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following
What is the answer to 1 2 and 3? 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 Payable Accounts Receivable Shawn Dahl, Capital Office Equipment Revenue Canoe and Kayak Equipment Expenses Transactions Shawn Dahl invested $44,900 in cash to open the business Paid $12,600 in cash for the purchase of kayak and canoe equipment Paid $1,600 in cash for rent expense Purchased additional kayak and canoe equipment for $4,350 on credit Received $4,450 in cash for kayak rentals Rented canoes and kayaks for $1,750 on account Purchased office equipment for $180 in cash Received $1,075 in cash from credit clients Shawn Dahl withdrew $2,050 in cash for personal expenses Based on the information above, complete the following accounting equation.
1. Assets Total
2. Liabilities Total
3. Owner's Equity
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started