ab X A >T < 35 V Styles Styles Dictate Sensitivity Editor T Pane Document Cloud C HOMEWORK NUMBER 1 (1.50 MARKS) NOTE: YOU NEED TO SEE VIDEOS BEFORE ATTEMTING THIS HOMEWORK PROBLEM:- Making an Accounting Equation Table and Financial Statements At the beginning of April, Muhammad launched a custom computer solutions company called Softworks. The company had the following transactions during April. a. Muhammad invested $95,000 cash, office equipment with a value of $7,500, and $38,000 of computer equipment in the company. b. The company purchased land worth $23,000 for an office by paying $5,000 cash and signing a long-term note payable for $18,000. C. d. The company paid $6,000 cash for the premium on a two-year insurance policy. e. The company purchased a portable building with $33,500 cash and moved it onto the land acquired in b. The company provided services to a client and immediately collected $4,400 cash. f. The company purchased $4,500 of additional computer equipment by paying $900 cash and signing a long-term note payable for $3,600. g. The company completed $4,650 of services for a client. This amount is to be received within 30 days. h. The company purchased $750 of additional office equipment on credit. i. The company completed client services for $10,900 on credit. j. The company received a bill for rent of a computer testing device that was used on a recently completed job. The $320 rent cost must be paid within 30 days. k. The company collected $5,100 cash in partial payment from the client described in transaction 1. The company paid $1,800 cash for wages to an assistant. m. The company paid $750 cash to settle the payable created in transaction h. n. The company paid $680 cash for minor maintenance of the company's computer equipment. 0. Muhammad withdrew $6,630 cash from the company for personal use. p. The company paid $1,900 cash for wages to an assistant. q. The company paid $550 cash for advertisements on the web during April. Required 1. Make a Table showing how these transactions impact Accounting Equation (see videos no. 1,2,3,4). 2. Prepare an income statement (see video no. 5) 3. Prepare statement of owner's equity (see video no. 5) 4. Prepare a Balance Sheet at end of April (see video no. 5)