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: Transactions
1.Shawn Dahl invested $45,000 in cash to open the business
2.Paid $12,700 in cash for the purchase of kayak and canoe equipment
3.Paid $1,050 in cash for rent expense
4.Purchased additional kayak and canoe equipment for $3,800 on credit
5.Received $3,900 in cash for kayak rentals
6.Rented canoes and kayaks for $1,200 on account
7.Purchased office equipment for $125 in cash
8.Received $800 in cash from credit clients
9.Shawn Dahl withdrew $1,500 in cash for personal expenses
Based on the information above,what is the fundamental accounting equation at the end of September for Whitewater Rentals?

Question

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:  Transactions
1.Shawn Dahl invested $45,000 in cash to open the business
2.Paid $12,700 in cash for the purchase of kayak and canoe equipment
3.Paid $1,050 in cash for rent expense
4.Purchased additional kayak and canoe equipment for $3,800 on credit
5.Received $3,900 in cash for kayak rentals
6.Rented canoes and kayaks for $1,200 on account
7.Purchased office equipment for $125 in cash
8.Received $800 in cash from credit clients
9.Shawn Dahl withdrew $1,500 in cash for personal expenses
Based on the information above,what is the fundamental accounting equation at the end of September for Whitewater Rentals?

Quizplus · Accepted Answer

The Answer of 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:  Transactions
1.Shawn Dahl invested $45,000 in cash to open the business
2.Paid $12,700 in cash for the purchase of kayak and canoe equipment
3.Paid $1,050 in cash for rent expense
4.Purchased additional kayak and canoe equipment for $3,800 on credit
5.Received $3,900 in cash for kayak rentals
6.Rented canoes and kayaks for $1,200 on account
7.Purchased office equipment for $125 in cash
8.Received $800 in cash from credit clients
9.Shawn Dahl withdrew $1,500 in cash for personal expenses
Based on the information above,what is the fundamental accounting equation at the end of September for Whitewater Rentals?

On September 1,Shawn Dahl Established Whitewater Rentals,a Canoe and Kayak