analyzing effects of transactions

Neva Nadal started a new business, Nadal Computing, and completed the following transactions during its first year of operations. a. Neva Nadal invested $90,000 cash and office equipment valued at $10,000 in the company. b. The company purchased an office suite for $50,000 cash. c. The company purchased office equipment for $25,000 cash. d. The company purchased $1,200 of office supplies and $1,700 of office equipment on credit. e. The company paid a local newspaper $750 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $2,800 for the service, a. The company designed a financial plan for another client and immediately collected a $4.000 cash fee. h. Neva Nadal withdrew $11,500 cash from the company for personal use. The company received $1.800 cash from the client described in transaction f. J. The company made a payment of $700 cash on the equipment purchased in transaction d. k. The company paid $2.500 cash for the office secretary's wages. Required 1. Create the following table similar to the one in Exhibit 1.9. Check (1) Ending balances Cash, 55,350: Expenses. $3,250, Accounts Payable, $2,200 Assets Liabilities + Equity N. Nadal, + Withdrawals Revenues Cash Expenses - + + + + + Accounts Receivable Office Supplies Office Equipment Accounts le Office Sutte N. Nadal. - Capital Use additions and subtractions within the table to show the dollar effects of each transaction on indi- vidual items of the accounting equation. Show new balances after each transaction. 2. Determine the company's net income. (2) Net income, $3,550