Ly in Class Assignment May 26 2002-Lagle Chrome fifa1.lyryx.com/student servlets/LabServe?cid=11330 Notes Receivable Question 3 [30 points] Based on the following transactions, complete the table shown below) a. A shareholder paid Northstar Corp. $80,000 cash for share capital in the business, b. Northstar Corp. used $200 cash and $700 credit to purchase $900 of supplies. c. Northstar Corp collected $1,700 for commissions earned today. d. Provided consulting services to a customer and collected $600. e. $900 of commissions were earned and collected today by Northstar Corp f. Northstar Corp bought $600 of supplies paying $100 cash and $500 on account g. Northstar Corp. bought supplies on credit for $100. h. Northstar Corp. collected $5,500 for commissions eamed today Northstar Corp spent $500 cash on supplies. J. Northstar Corp paid dividends of $1,700 to the shareholders To complete the table shown below, identify the headings 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. Show new totals after each transaction (no + or sign is required for totals). Also 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 Do not leave any balances blank, unless the balance is zero. Assets Liabilities Equity Share Capital Retained Earings Explanation