0 September 30, 2018 financial position Assets = + Liabilities Accounts Payable 8,100 Accounts + Receivable + 3,500 Stockholders' Equity Common Retained Stock + Earnings 6,500 3,450 Supplies = Cash 2,250 + + Equipment 12,300 Bal Print Done i Transactions a. The company received cash of $3,800 and issued common stock b. Performed services for a customer and received cash of $6,000 c. Paid $4,400 on accounts payable d. Purchased supplies on account, $1,100. e. Collected cash from a customer on account, $2,000. Consulted on the design of a computer system and billed the customer for services rendered, $4,200. g. Recorded the following business expenses for the month: (1) paid office rent- $1,500; (2) paid advertising$650. (Record the cash amount as a total and identify and record any other amounts separately.) h. Declared and paid a cash dividend of $2,500. Print Done The following amounts summarize the financial position of Taylor Computing, Inc., on September 30, 2018: (Click the icon to view the September 30, 2018 financial position.) During October 2018, Taylor Computing completed these transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Analyze the effects of the preceding transactions on the accounting equation of Taylor Computing, Inc. Enter the transactions in the accounting equation, beginning with transaction "a." For transactions that affect stockholders' equity, select the type of equity transaction. For transaction "g", enter the amounts into the accounting equation as one transaction. After all transactions have been entered, calculate the ending balance of each account, total assets, and total liabilities and stockholders' equity. (Use parentheses or a minus sign when decreasing accounts. If a box is not used in the table leave the box empty; do not enter a zero.) Assets Liabilities Stockholders' Equity Accounts + Receivable + 3,500 Supplies Accounts Payable 8,100 Type of Equity Transaction - Equipment = 12,300 = + Common Stock 6,500 3800 Retained + Earnings 3,450 Cash 2,250 3800 (b) 6000 c 4400 (d) C e 2000 6000 1100 1100 C 2000 4200 4200 2150 L 2150 7 (n_2500 2500 10300 Bal 5000 D 1100 12300 4800 5700 24100 9000 24100 Total Requirement 2. Prepare the income statement of Taylor Computing, Inc., for the month ended October 31, 2018. List expenses in decreasing order by amount. Select the labels and enter the amounts to complete the income statement. Remember to list expenses in decreasing order by amount. (Use parentheses or a minus sign for a net loss.) Review the accounting equation completed in Requirement 1. Taylor Computing, Inc. Income Statement Month Ended October 31, 2018 Revenues: Expenses: Net income (loss) Requirement 3. Prepare the entity's statement of retained earnings the month ended October 31, 2018. Select the labels and enter the amounts to complete the statement of retained earnings. (Use parentheses or a minus sign for a net loss. Include a subtotal after the "Add" line of the statement.) Review the accounting equation completed in Requirement 1. Taylor Computing, Inc. Statement of Retained Earnings Month Ended October 31, 2018 Add Subtotal Less: Requirement 4. Prepare the balance sheet of Taylor Computing, Inc., at October 31, 2018 Select the labels and enter the amounts to complete the balance sheet. (Do not classify the balance sheet into current and long-term sections. If a box is not used in the statement leave the box empty, do not select a label or enter a zero.) Review the accounting equation completed in Requirement 1. Taylor Computing, Inc. Balance Sheet October 31, 2018 Assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Total assets