1 V's Violins has the following assets, liabilities and net worth as of December 31" 2019 V's Violins Balance Sheet As of December 31" 2019 Assets Uabilities Cash 5.000 Accounts Payable Accounts Receivable 2.000 Bank Loan Equipment 5.000 Mortgage Building 100,000 Total abilities Mr. V Capital Total Assets 112,000 Total Liabilities. Net Worth 1.000 30,000 75.000 106,000 6,000 112.000 2 4 A) Journalize the following Transactions for Me. V 1. Mr. V pays $1000 owed to his suppliers on January 1". Mr. V buys S1000 worth of equipment on January 3*, 3. Mr. V takes out a loan of $11000 on January 5" Mr. Purchases new equipment for 5700 on account January 7" 5. Mr. V. Prepays his insurance for the year for $3000 on January 8 6. Mr. Vis paid $5000 dollars cash for his work as the official violinist of the International Limbo Champions on January 11th 7. Mr. Vhas his violins polished for $400 on account on January 17". On January 17", Mr. Vis paid $600 which was owed to him for violin lessons completed last 8 month 9. 10. On January 18", A customer Prepays $800 for violin lessons to be given later. Mr. V withdraws $4000 from V's Violins on January 24". 8) Create a ledger for V's Violins using your journal. Remember to include opening entries. C) Create an Income Statement for V's Violins for January 31". D) Create a Balance Sheet for V's Violins on January 31