Alan Simmon recently opened his own accounting firm on April 1, which he operates as a...

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Alan Simmon recently opened his own accounting firm on April 1, which he operates as a corporation. The name of the new entity is Alan Simmon, CPA. Simmon experienced the following events during the organizing phase of the ne business and its first month of operations in 2018 (Click the icon to view the transactions.) Read the requirements Requirement 1. Analyze the effects of the events on the accounting equation of Alan Simmon, CPA Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 5th. For each transaction that follows the transaction on the 5th, calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account on the 30th, calculate total assets and total labilities and equity (Complete only the necessary answer boxes for your transaction lines. (Do not enter any zeros fa your transaction lines] Carry down all balances to the "Bal" line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used A/P Accou Payable, AR Accounts Receivable Com Common Contr. Contributed, Div. Dividends; Exp. Expense; Fum Fumiture: Liab Liabilities; Rev. Revenue: Sup Supplies; UU.) ASSETS LIAB EQUITY Contr Cap. More info Cash A Office Fum AP Sup + Com Stock Div. Retained Earnings Service Rev Rent Exp Un Exp Requirements 1. Analyze the effects of the events on the accounting equation of Alan Simmon CPA 2. Prepare the following financial statements a. Income statement b. Statement of retained eamings eBalance sheet x Simmon deposited $76,000 in a new business bank account sted Alan Apr. 5 Simmon, CPA. The business issued common stock to Simmon Apr. 6 Paid $500 cash for letterhead stationery for new office Apr. 7 Purchased office fumiture for the office on account, $7,000. Apr. 10 Consulted with tax client and received $2,300 for services rendered Apr. 11 Paidudes $350. Finished tax hearings on behalf of a client and submitted a bill for Apr. 12 accounting services, $14,000 Apr. 18 Paid office rent. $1,200 Apr. 25 Received amount due from client that was billed on April 12 Apr. 27 Paid full amount of accounts payable created on April 7. Apr. 30 Cash dividends of $2,000 were paid to stockholders. Alan Simmon recently opened his own accounting firm on April 1, which he operates as a corporation. The name of the new entity is Alan Simmon, CPA. Simmon experienced the following events during the organizing phase of the ne business and its first month of operations in 2018 (Click the icon to view the transactions.) Read the requirements Requirement 1. Analyze the effects of the events on the accounting equation of Alan Simmon, CPA Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 5th. For each transaction that follows the transaction on the 5th, calculate the balance in each account after analyzing its effect on the accounting equation. After calculating the ending balance of each account on the 30th, calculate total assets and total labilities and equity (Complete only the necessary answer boxes for your transaction lines. (Do not enter any zeros fa your transaction lines] Carry down all balances to the "Bal" line, including zero balance accounts, entering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used A/P Accou Payable, AR Accounts Receivable Com Common Contr. Contributed, Div. Dividends; Exp. Expense; Fum Fumiture: Liab Liabilities; Rev. Revenue: Sup Supplies; UU.) ASSETS LIAB EQUITY Contr Cap. More info Cash A Office Fum AP Sup + Com Stock Div. Retained Earnings Service Rev Rent Exp Un Exp Requirements 1. Analyze the effects of the events on the accounting equation of Alan Simmon CPA 2. Prepare the following financial statements a. Income statement b. Statement of retained eamings eBalance sheet x Simmon deposited $76,000 in a new business bank account sted Alan Apr. 5 Simmon, CPA. The business issued common stock to Simmon Apr. 6 Paid $500 cash for letterhead stationery for new office Apr. 7 Purchased office fumiture for the office on account, $7,000. Apr. 10 Consulted with tax client and received $2,300 for services rendered Apr. 11 Paidudes $350. Finished tax hearings on behalf of a client and submitted a bill for Apr. 12 accounting services, $14,000 Apr. 18 Paid office rent. $1,200 Apr. 25 Received amount due from client that was billed on April 12 Apr. 27 Paid full amount of accounts payable created on April 7. Apr. 30 Cash dividends of $2,000 were paid to stockholders.