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Analyze the effect of Davis Consulting's transaction on the account equation. Use the format of exhibit 1-4, and include these headings: Cash: Accounts Receivable; Office

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Analyze the effect of Davis Consulting's transaction on the account equation. Use the format of exhibit 1-4, and include these headings: Cash: Accounts Receivable; Office supplies; Capital; Davis, Withdrawals; Service Revenue; Rent Expends and Utilities Expense. Prepare the income statement of Davis Consulting for the month ended December 31, 2014. Prepare the statement of owner's equity for the month ended December 31, 2014. Prepare the balance sheet as of December 31, 2014. Calculate the return on assets for Davis Consulting

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