Angela Pivone recently opened her own law office on March 1, which she operates as a sole proprietorship. The name of the new entity is Angela Pivone, Attorney. Pivone experienced the following events during the organizing phase of the new business and its first month of operation, March 2018. Some of the events were personal and did not affect the law practice. Others were business transactions and should be accounted for by the business.

Mar. 1 Sold personal investment in Amazon.com stock, which she had owned for several years, receiving $26,000 cash. 2 Deposited the $26.000 cash from the sale of the Amazon.com stock in her personal bank account. 3 Deposited $80,000 cash in a new business bank account titled Angela Pivone, Attorney. The business gave capital to Pivone. 5 Paid $400 cash for ink cartridges for the printer. 7 Purchased computer for the law office, agreeing to pay the account, $6,800, within three months. 9 Received $1,800 cash from customers for services rendered 15 Received bill from The Lawyer for magazine subscription, $390. (Use Miscellaneous Expense account.) rt hearings on behalf of a client and submitted a bill for legal services, $11,000, on account 28 Paid bill from The Lawyer. 30 Paid utilities, $920. 31 Received $2,900 cash from clients billed on March 23. 31 Pivone withdrew cash of $6,000. Print Done * Requirements 1. Analyze the effects of the preceding events on the accounting equation of Angela Pivone, Attorney. 2. Prepare the following financial statements: a. Income statement. b. Statement of owner's equity. C. Balance sheet. d. Statement of cash flows. Print Done Angela Pivene recently opened her own law office on March 1 which she operates as a sole proprietorship. The name of the new entity is Angela Pivone, Attorney Pivon experienced the following events during the organizing phase of the new business and its first month of operation March 2018. Some of the events were personal and did not affect the law practice. Others were business transactions and should be accounted for by the business Click the icon to view the transactions) Read the requirements Requirement 1. Analyze the effects of the preceding events on the accounting equation of Angela Phone Atomey Analyze the events chronologically one transaction at a time beginning with the transaction on the 1 For each transaction that follows the transaction on the 2nd calculate the balance in each account after analyzing is effect on the accounting equation. After calculating the ending balance of each account on the 31st calculate total assets and total abilities and equity. Complete only the necessary answer boxes for your transaction lines. Do not enter any zeres for your transaction lines. If a transaction is personal and does not affect the business leave the transaction line blank Carry down all balances to the Baline, including zero balance accounts, entering a " for any zero balances Enter a decrease in an account with a minus sign or parentheses Abbreviations used AP Accounts Payable AR Accounts Receivable Cap Plvone Capital Comp Computer Exp Expense Liab Liabilities: Misc. - Miscellaneous Rex - Revenue Sup. - Supplies. Util - Utilities: Withdr - Pivone, Withdrawals) ASSETS - LIAB EQUITY . Withde - Service. Cash A/R Office - Comp Cap U E:5:5:5 EQUITY Cash + ASSETS AR + Office + Comp. = Sup AP + Cap . . Withdr. + Service Rev. Util. Exp. . Misc. Exp. + + 3/23 + Bal + 3/28 + + Ball 3/30 Bal. | || || | | Requirement 2. Prepare the financial statements. a. Income statement. (If a box is not used in the table leave the box empty, do not select a label or enter a zero.) Review the ending balances of the accounts from Requirement 1. Net Income b. Statement of owner's equity. Enter any increases in capital prior to the subtotal and any decreases to capital below the subtotal. (Enter a "0" for any zero balances.) Review the ending balances of the accounts from Requirement 1. Pivone, Capital, March 1, 2018 Pivone, Capital, March 31, 2018 C. Balance sheet. (If a box is not used in the table leave the box empty, do not select a label or enter a zero.) Review the ending balances of the accounts from Requirement 1. Assets Liabilities Owner's Equity d. Statement of cash flows Complete the statement one section at a time beginning with the heading and cash flows from operating activities (Use a minus sign of parentheses for amounts that result in a decrease Select a label or entera 20. Complete all answer boxes for subtotals and the final cash section though Enter for any zero subtotal or cash balance) cash. If a box is not used in the tableave the box empty do not Cashows from operating activities Payments Net cash provided used by operating activities Cash fows from investing activities Cash flows from investing activities: Net cash provided (used) by investing activities Cash flows from financing activities: Net cash provided (used) by financing activities Net increase (decrease) in cash Cash balance, March 1, 2018 Cash balance, March 31, 2018