Also need to determine the company's net income checked the answers and so far they are correct but kind of stuck on filling in the rest
Check my work Required: 5 2. Enter the amount of each transaction on individual items of the accounting equation. (Reductions In account balances should be indicated with a minus sign.) 10 points a II-l--l_ : e , e II-l--l- Ball 24,000 + 0 + 0 + 37,000 + 44,000 = 0 + 0 0 + 0 0 .5. e-_III-III---_-l--l- pm\" Bal. 18,800 + 0 + o + 42,200 + 44,000 = 0 + 0 o + o 0 d--II-I_I-II_-_l-_l- if. Bal. 18,800 + 0 + 3,300 + 43,200 + 44,000 = (4,900). + 0 0 + 0 0 eereeeee e. -llll_--- e e -l-I-l_ Bal. 17,940 + 0 + 3,300 + 43,200 + 44,000 = (4,900) + 0 0 + 0 0 4,900 4,900 m E . r\" I I +3 +3 I I + o I o + o I 0 17,940 8.10 + + 3,300 43,200 44,000 (4,900) .'P I a en en em I ea Bal 26,040 + 4,900 3,300 43,200 44,000 = (4,900) + 0 0 0 0 h- ---------H--l--l- Ball 24,840 + 4,900 + 3,300 + 43,200 + 44,000 = (4,900) + 0 0 + 0 0 ie _---llll---H_-l__l- Bal 28,740 + 1,000 + 3,300 + 43,200 + 44,000 = (4,900) + 0 0 + 0 0 (500 28,240 (2,000) $ 26,240 (500) (5,400) DJ E a en a a + + T O + T 0 1,000 3,300 43,200 44,000 + + + + + + n m L' + es 0 l as o + es 0 I m o . F I I I I + $ 1,000 + $ 3,300 + $ 43,200 + $ 44,000 $ (5,400) References Check my work Problem 1-8A Analyzing effects of transactions LO C4, P1, P2, A1 Lita Lopez started Biz Consulting. a new business, and completed the following transactions during its rst year of operations. a. Lita Lopez invested $68,000 cash and ofce equipment valued at $37,000 in the company in exchange for its common stock. b. The company purchased an ofce suite for $44,000 cash. c. The company purchased ofce equipment for $5,200 cash. d. The company purchased $3,300 of ofce supplies and $1,000 of ofce equipment on credit. e. The company paid a local newspaper $860 cash for printing an announcement of the ofce's opening. f. The company completed a nancial plan for a client and billed that client $4,900 for the service. 9. The company designed a nancial plan for another client and immediately collected a $8,100 cash fee. h. The company paid $1,200 cash in dividends to the owner (sole shareholder). i. The company received $3,900 cash as partial payment from the client described in transaction f j. The company made a partial payment of $500 cash on the equipment purchased in transaction d. k. The company paid $2,000 cash for the ofce secretary's wages for this period. Required: 2. Enter the amount of each transaction on individual items of the accounting equation. (Reductions in account balances should be indicated with a minus sign.) . , )+ __I -a =la-I \"I- -al-a _I_I-I_I-I-I_I-I_I- -I- -III- \"IUIUI