Apply FastForward's first ten transactions one at a time and keep both sides of the equation equal.
Chas Taylor invests $30,000 cash in exchange for common stock.
$0 common stock = $0
The , Assets = Liabilities + Equity, holds after every single transaction, not just at year end. Buying supplies for cash only swaps one asset for another, so both sides stay put.
The breaks Equity into its parts: Common Stock and Revenues push it up; Dividends and pull it down. A transaction that touches only Equity's parts — like paying rent — still keeps Assets = Liabilities + Equity true.