Dear tutor,

Please help explain where you get the numbers and derived the equation.

The two images with words are to give you the word bank for the explanations.

Question 3 [32 points] Based on the following transactions, complete the table shown below. a. A shareholder paid Vision Consulting Inc. $40,000 cash for share capital in the business. b. Vision Consulting Inc. collected $7,000 for commissions earned today. c. Vision Consulting Inc. bought equipment on credit for $3,750. d. Vision Consulting Inc. paid $500 for equipment purchased today. e. Furniture was rented by a customer for $1,700 cash f. Vision Consulting Inc. used credit to purchase $3,250 of equipment. g. Vision Consulting Inc. used $100 cash and $500 credit to purchase $600 of supplies. h. Vision Consulting Inc. used credit to purchase $600 of supplies. i. Vision Consulting Inc. paid $300 for supplies purchased today. j. Vision Consulting Inc. paid dividends of $2,000 to the shareholders. a) To complete the table shown below, identify the headings (account names) for each column by clicking on the appropriate cell and making a selection. Use additions (+ sign) and subtractions (- sign) to show the transactions' effects on the elements of the equation. Indicate next to each change in equity (in the explanation column) whether it was caused by the issuance of share capital (investment), a revenue, an expense or payment of dividends. Identify revenues and expenses by name. If a transaction does not affect equity, no explanation is required. Calculate the total balance for each column (no + or - sign is required for totals) Assets Liabilities Equity Explanation + Share Capital+ Retained Earnings Bal. b) Prove the accounting equation by calculating total assets and comparing it to the total of liabilities plus equity. Please make sure your final answer(s) are accurate to the nearest whole number. Total assets = Total liabilities and equity Accounting equation: = Official Time: 7:36:51 SUBMIT AND MARK SAVE AND CLOSE