Question

Question Help E4-3 (similar to) High Wind Games, Inc. is a new corporation started on January 1, 2018. The following transactions occurred during the first year of operations 1 Click the icon to wow the transactions Requirements a. Show the elect of each transaction on assets, labi , and equity using the accounting equation b. Prepare the journal entry for each transaction. Omit explanations Requirement a Snow the offect of each transaction on labs, and equity using the accounting on account who minus sign or parentheses. Abbreviations used AR Accounts Receivable Equip Equipment 1 Expenses: DW Dividonds) a box is not used in the lable loave the box amply do not entrar nor a decrease in an PL Beginning Retained a ng Contr. can contributed Capital Row Rovanos EAD Assets Liabilities - Stockholders' Equity Stockholders' Equity Ending Retained Earnings Rev. and Expand - Gain Loss Cash + AR + Equip -Liais + Conti Cap. Beg. RE Div. Declared Enter any number in the edit fields and then click Check Answer

Answer 1

a)

	Assets					=	Liabilities	+	Stockholders equity
											Ending Retained earning
	Cash	+	Accounts receivable	+	Equipment	=	Liabilities	+	Contributed capital	+	Beginning balance	+	Revenue /Gain	-	Expenses/losses	-	Dividend
a	+47000								+47000
b	-9700				9700
c	96000						96000
d							7000								7000
e	-7000						-7000
f	-4600														4600
g	16500		16500										33000
h	16500		-16500
i	-10500						-10500
Balance	144200	+	0	+	9700	=	85500	+	47000	+	0	+	33000	-	11600	-	0