Based on the following transactions, complete the table shown below. a. Ludwig Inc. issued shares to shareholders for $5

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Based On The Following Transactions Complete The Table Shown Below A Ludwig Inc Issued Shares To Shareholders For 5 1 (67.64 KiB) Viewed 37 times

Based on the following transactions, complete the table shown below. a. Ludwig Inc. issued shares to shareholders for $55,000. b. A client rented equipment for $1,400 cash. c. Furniture was rented by a customer for $1,800 on credit. d. Ludwig Inc. performed consulting services for a customer and received $7,000. e. A client rented equipment for $1,300 cash. f. Ludwig Inc. bought $700 of supplies paying $100 cash and $600 on account g. Ludwig Inc. spent $100 cash on supplies. h. Furniture was rented by a customer for $700 on credit. i. Ludwig Inc. purchased supplies by paying $500 cash. j. Ludwig Inc. paid dividends of $2,400 to the shareholders. a) To complete the table shown below, identify the headings (account names) 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. 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. Calculate the total balance for each column (no + or - sign is required for totals) Assets = Liabilities Equity Explanation +Share Capital+Retained Earnings (a) (b) (c) (d) (e) (f) (g) (h) 0 0 Bal. + + 11 ake sure b) Prove the accounting equation by calculating total assets and comparing it to the total of liabilities plus equity. Please your final answer(s) are accurate to the nearest whole number. Total assets Total liabilities and equity Accounting equation: 11