Reference no: EM132476467

Question - On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts:

Cash Accounts Payable Accounts Receivable Shawn Dahl, Capital Office Equipment Revenue Canoe and Kayak Equipment Expenses

Transactions

1. Shawn Dahl invested $45,900 in cash to open the business

2. Paid $13,600 in cash for the purchase of kayak and canoe equipment

3. Paid $1,500 in cash for rent expense

4. Purchased additional kayak and canoe equipment for $4,250 on credit

5. Received $4,350 in cash for kayak rentals

6. Rented canoes and kayaks for $1,650 on account

7. Purchased office equipment for $170 in cash

8. Received $1,025 in cash from credit clients

9. Shawn Dahl withdrew $1,950 in cash for personal expenses

Required - Based on the information above, complete the following accounting equation - Assets = Liabilities + Owner's Equity.