Whistle Stop Incorporated is a small manufacturing company that makes model trains to sell to toy stores. It has a small service department that repairs customers model trains for a fee. The company has been in business for five years. At the end of the previous year, the accounting records reflected total assets of $630,000 and total liabilities of $220,000. During the current year, the following summarized events occurred:

Issued additional shares for $135,000 cash.

Borrowed $108,000 cash from the bank and signed a ten-year note.

Built an addition on the factory for $226,000 and paid cash to the contractor.

Purchased equipment for the new addition for $69,000, paying $6,900 in cash and signing a note due in six months for the balance.

Returned a $6,900 piece of equipment, from (d), because it proved to be defective; received a reduction of the note payable.

Purchased a delivery truck (equipment) for $12,500; paid $5,000 cash and signed a nine-month note for the remainder.

A shareholder sold $18,000 worth of his shares in Whistle Stop Incorporated to his neighbour.

Required:

1. Complete the spreadsheet given below, for increases and decreased in each account. The first transaction is used as an example.