www esc Lab 1.5 (Question 3) - Lyryx Learning Inc - Mozilla Firefox N https://lifa1.lyryx.com/student-servlets/LabServlet?ccid=10460 Question 3 [32 points] Based on the following transactions, complete the table shown below. a. X-cell Inc. issued shares to shareholders for $65,000. b. X-cell Inc. used $100 cash and $400 credit to purchase $500 of supplies. c. X-cell Inc. returned $100 of defective supplies today that were originally purchased for cash. d. $700 of commissions were earned and collected today by X-cell Inc. (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) Bal. e. Furniture was rented by a customer for $1,900 cash. f. X-cell Inc. used $200 cash and $600 credit to purchase $800 of supplies. g. A client rented equipment for $1,600 cash. h. X-cell Inc. performed consulting services for a customer and received $6,500. i. $400 of supplies purchased on credit in transaction (b) were found to be defective. They were returned. j. X-cell Inc. paid dividends of $1,000 to the shareholders. O Official Time: 18:06:18 a) To complete the table shown below, identify the headings (account names) for each column by clicking on the appropriate cell and making transactions' effects on the elements of the equation. Indicate next to each change in equity (in the explanation column) whether it was cause payment of dividends. Identify revenues and expenses by name. If a transaction does not affect equity, no explanation is required. Calculate t Assets = Liabilities Equity Explanation +Share Capital+Retained Earnings 19C Sunny b) Prove the accounting equation by calculating total assets and comparing it to the total of liabilities plus equity. Please make sure your final an 15 ACA % Q Search 16 18 hp * fg 110

Question 3 [32 points] Based on the following transactions, complele the tablo shown below a. X-cell inc issued shares to shareholders lor $65,000. b. X-cel Inc. used $100 cash and $400 codit to purchase $500 of sugplies. c. X-cell ha. ieturned $100 of defective supplies today that were origithlly purchasid for cash. d. 5700 of commissions were oamed and collected today by X-cetl inc e. Furniture was rented by a cistomer for $1,100 cash. t X-cel inc, used $200 cash and $600 crebit to purchase $800 of supplies. 9. A clicht rented equigment for $1,600 cash, h. X-ced inc, pertarmed consuling services for a customer and recoived $6,500. 1. \&400 of supples purchased on credit in transactich (b) were found to be defetive. They wero coturned 1. X-cel inc. paid dividends of $1,000 io the sharetolders. a) To complebe the table shown below, identify be heacings (scocule names) for each column by clicking on ife appropriate col ard making transactions' effects on the elements of the equation. Indicate next so each change in equty (h the explanabon column) whether it was castse