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Question 4 The too. The Correctional Pacility is a private enterprise prison that contracts services to midwestern state. At October 1, the beginning of its flical year, the organization had the fol. lowing balance sheet Assets Cash Supplies Equipment Building Accumulated depreciation Loo-Tite Correctional Facility Balance Sheet at October 1 Liabilities and Owners' Equity $ 43,725 Accounts payable 65,700 Bonds payable 350,000 Owners investment 1,400,000 Retained earnings 1100.000 652,500 $2411025 Total $28.350 450.000 1.050,000 883,575 $2411.925 Total During the month of October, a number of economic events occurred and were entered into the accounting system. At the end of October, the company prepared the following financial statement LOC-Tite Correctional Facility Financial Statements Balance Sheet at Oct. 31) Libilities and Owners' Equity $ 58,726 Accounts payable $ 28,350 28.200 Bonds payable 0 360,000 Owners Investment 1.050,000 1.400.000 Retained wings 1.302.450 (108.625 652 500 SHOTS Total $200 Income Statement for Oct.) Ravenues $810,000 Expenses Supplies 37.500 Depreciation 3.625 Wages 345.000 Assets Cash Supplies Equipment Building Accumulated depreciation Land Total Net Income Required A. Identify the transactions that occurred during October I. Prepare a schedule that explains the changes in cash balasce doring October

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