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Accounting Equation Analysis The following amounts summarize the financial position of Davis Computing, Inc., on September 30, 2018: (Click the icon to view the September 30, 2018 financial position.) During October 2018, Davis Computing completed these transactions: (Click the icon to view the transactions.) Assets Liabilities Stockholders' Equity Common Requirement 1. Journalize the transactions of Davis Computing, Inc. (Record debits first, then credits. Exclude explanations from any journal entries.) a. The company received cash of $3,500 and issued common stock. Cash Accounts + Receivable + Supplies + Equipment 3,450 11,700 Accounts Payable 7,900 Type of Equity Transaction + Retained + Earnings 4,150 Stock Journal Entry Bal 2.400 5,500 Accounts 3.500 Debit Credit Issued stock (a) 6,500 Service revenue i Requirements (a) 3,500 (b) 6,500 (c) (4,400) (d) (4,400) 1,200 1,200 (e) 1,700 (1,700) 4.700 1. Journalize the transactions of Davis Computing, Inc. Explanations are not required. 2. Prepare a T-account for each account. Insert in each T-account its September 30 balance as given (example: Cash $2,400). Then, post the October transactions to the T-accounts. 3. Compute the balance in each account. 0 (g) (2,350) 4.700 Service revenue (1,800) Rent expense (550) Advertising expense (2.700) (2.700) Dividends (h) Bal 4,650 6.450 1.200 11,700 4.700 9.000 10,300 Print Done Total 24,000 24,000 i Transactions Print Done i September 30, 2018 financial position a. The company received cash of $3,500 and issued common stock. b. Performed services for a customer and received cash of $6,500. C. Paid $4,400 on accounts payable. d. Purchased supplies on account, $1,200. Collected cash from a customer on account, $1,700. f. Consulted on the design of a computer system and billed the customer for services rendered, $4,700 g. Recorded the following business expenses for the month: (1) paid office rent- $1,800; (2) paid advertising $550 h. Declared and paid a cash dividend of $2,700. Assets Liabilities Cash Accounts + Receivable + Supplies - Equipment 3,450 11,700 Accounts Payable 7.900 Stockholders' Equity Common Retained Stock + Earnings 5,500 4,150 + Choose from any list or enter any number in the input fields and th Bal 2,400 8 parts remaining Print Done Print Done