The following events occurred during the month of September 2016 for the business of Eliza’s Webdesign Service:

Sept.

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Eliza deposited $40000 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 2016. Web design services were provided to clients for $12000. The clients were invoiced but have not as yet paid. Advertising for the week amount to $1000 cash. A customer paid $3000 in advance for web design services scheduled for October.

Required:

A. Determine the effects of 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 Webdesign Service.

C. Effect of each business transaction on balance sheet