Question: please answer A and B Based on the folowing transactions, complete the table shown below. a. Southgate inc, issued shares to shareholders for $40,000. b.
Based on the folowing transactions, complete the table shown below. a. Southgate inc, issued shares to shareholders for $40,000. b. Furniture was rented by a customer for $1,400cash. c. $1,500 of commissions were eamed and colected today by Southgate inc. d. A client rented equipment for 35,500 cash. e Southgste ine used $100 cash and $600 credit to purchase $700 of supplies 1. Southgate inc, collocted $1,900 for commissicns eamed today 9. Southgate inc returned $100 of defective supplies today that were originaly purchased for cash. h. Fumiture was rented by a customer for $1,000 cash 1. Southgate inc. purchased $600 of supplies on credit. I. Southate inc. paid dividends of $2,000 to the shareholders. a) To complete the table shown below, ldentify the headings (account names) for each column by clicking on the appropriale cell and making a selection. Use additions (+ sign) and subtractions (- sign) to thow the transactions' effects on the elements of the equation. Indicate next to each change in equty (in the explanation column) whether it was cavised by the issusnce of share capaal (investment). a revenue, an expense or payment of dividends. Identty revonues and expenses by name. If a transaction does not affect equaty, no explanation is required. Calculate the total balance for each column (no + or - sign is required for totals) b) Prove the accounting equntion by calculating total assets and comparing ta to the total of lablities plus equity. Piease make sure your final answer(s) are accurate to the nearest whole number. Acoounting equation
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