The following events occurred during the month of September 2019 for the business of Eliza’s Webdesign Service.

Required

(a) Determine the effects of the business transactions on a balance sheet by preparing a new balance sheet for Eliza’s Webdesign Service after each transaction has occurred.

(b) Discuss the expected tasks of Eliza as the manager of Eliza’s Webdesign Service.

Transcribed Image Text:

Sept. 1 1246 2 7 8 Eliza deposited $40 000 cash into the business bank account. A computer, telephone system and printer were purchased at a cost of $10000 cash. A part-time receptionist was hired to commence in October 2019. Web design services were provided to clients for $12000. The clients were invoiced but have not as yet paid. Advertising for the week amounts to $1000 cash. A customer paid $3000 in advance for web design services scheduled for October.