Answer all kindly

AbbyAbby

PrimrosePrimrose

recently opened her own law? office, which she operates as a sole proprietorship. The name of the new entity is

AbbyAbby

PrimrosePrimrose?,

Attorney.

PrimrosePrimrose

experienced the following events during the organizing phase of the new business and its first month of? operation,

MarchMarch

20162016.

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.

Sold personal investment in Amazon? stock, which she had owned for several? years, receiving $ 31 comma 000$31,000 cash. 2 Deposited the $ 31 comma 000$31,000 cash from the sale of the Amazon stock in her personal bank account. 3 Deposited $ 60 comma 000$60,000 cash in a new business bank account titled AbbyAbby PrimrosePrimrose?, Attorney. The business gave capital to PrimrosePrimrose. 5 Paid $ 500$500 cash for ink cartridges for the printer. 7 Purchased computer for the law? office, agreeing to pay the? account, $ 7 comma 500$7,500?, within three months. 9 Received $ 3 comma 800$3,800 cash from customers for services rendered. 15 Received bill from The Lawyer for magazine? subscription, $ 150$150. ?(Use Miscellaneous Expense? account.) 23 Finished court hearings on behalf of a client and submitted a bill for legal?services, $ 11 comma 000$11,000?, on account. 28 Paid bill from The Lawyer. 30 Paid? utilities, $ 1 comma 200$1,200. 3131 Received $ 3 comma 300$3,300 cash from clients billed on Mar.Mar. 23. 3131 PrimrosePrimrose withdrew cash of $ 3 comma 000$3,000

\fQuestion 6 (2 points) Which of the following is true of a closely held corporation? It is often called a municipal corporation. It is a corporation not organized for profit. It is a governmental organization. The shareholders in a closely held corporation are fewer in number. The stock in a closely held corporation is widely held. Save OWSAllison Alton practices law under the business title Allison Alton, Alton's business uses the following accounts Attorney at Law, Inc. During June, her law practice engaged in (Click the icon to view the accounts. ) the following transactions. i (Click the icon to view the transactions.) Requirement 1. Journalize each transaction. No explanations are Jun 1: Sold $65,000 of common stock to Alton to start the business Journal Entry Date Accounts Debit Credit Change from any list or enter any number In the Inout fields and then click Check AnswerP1-46A Using the accounting equation for transaction analysis and preparing Learning Obje financial statements Angela Petrillo recently opened her own law office, which she operates as a corporation. 2c. Total Assets $9 The name of the new entity is Angela Petrillo, Attorney. Petrillo experienced the following events during the organizing phase of the new business and its first month of operation, March 2016. 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 stock, which she had owned for several years, receiving $31,000 cash. 2 Deposited the $31,000 cash from the sale of the Amazon stock in her personal bank account. 3 Deposited $72,000 cash in a new business bank account titled Angela Petrillo, Attorney. The business issued common stock to Petrillo. 5 Paid $350 cash for ink cartridges for the printer. 7 Purchased computer for the law office, agreeing to pay the account, $5,500, within three months. 9 Received $2,500 cash from customers for services rendered. 15 Received bill from The Lawyer for magazine subscription, $340. (Use Miscellaneous Expense account.) 23 Finished court hearings on behalf of a client and submitted a bill for legal services, $18,000, on account. 28 Paid bill from The Lawyer. 30 Paid utilities, $1,300. 31 Received $1,800 cash from clients billed on Mar. 23. 31 Cash dividends of $2,000 were paid to stockholders. Requirements 1. Analyze the effects of the preceding events on the accounting equation of Angela Petrillo, Attorney. Use a format similar to Exhibit 1-6. 2. Prepare the following financial statements: a. Income statement. b. Statement of retained earnings. c. Balance sheet