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1. Analyze the business transactions using the tabular flow (A=L+C), Find the new balances after each transaction, Foot rule all transactions at the end of
1. Analyze the business transactions using the tabular flow (A=L+C), Find the new balances after each transaction, Foot rule all transactions at the end of the period 2. Prepare financial statements: Income Statement, Capital Statement, Balance Sheet and Statement of Cash Flows for Vivian Harris company for the period January 31, 2018 On December 1, 2018, Vivian Harris started a business which performs a consulting services for clients. She invested on December 1, $30,000 cash in the business and deposited the cash in a bank account. December 2, Vivian Harris purchase supplies for $2,500 cash to effectively run her consulting firm recently established. December 3, Vivian Harris purchased equipment for $26,000 cash to set up her new firm. December 4, Vivian Harris purchased on account additional supplies of 7,100 for her consulting firm. December 5, Vivian Harris provided her first consulting service to a client and collected $4,200 cash. December 6, Vivian Harris paid rent for $1,000 and also paid the biweekly salary for only employee for $700. December 7, Vivian Harris provided consulting services and billed the client for $1,600. Also, the business rented a facility and billed the client for $300. December 15, the client paid Vivian Harris $1,900 after 12days for consulting service provided on December 7. December 16, Vivian Harris made partial payment of $900 to the supplier for supplies taken on December 4. December 20, Vivian Harris withdrew $200 cash for personal use
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