A. With the following transactions post in the respective asset, liability, capital, expense or income accounts using the platform of cost of good sold and accrual base. Please identified and be clear. (Don't skip steps)

1. $ 1000 share earnings are received

2. 100 pounds received with direct materials bill of $ 600.

3. 40 pounds are used for production.

4. the salary of the direct work week is paid for $ 250

5. the electricity bill is received for $ 120

6. You pay $ 240 of the bill of materials

7. electricity is paid.

8: A sale of $ 1500 is made and the customer is billed.

9. The client pays us $ 800 of the invoice.

10. $ 800 is paid for selling and distribution expenses.

11. A team of $ 8000 was bought with a loan

12. The first year of the equipment was depreciated with a life of 8 years and a residual value of $ 2,000

B. Determine cost of product manufactured and sold.

C. Prepare the balance sheet and income statement based on these transactions.