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Homework 0 Homework - Ce Saved Problem 1-8A Analyzing effects of transactions LO P1, A1 Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $60,000 cash and office equipment valued at $34,000 in the company in exchange for its common stoc b. The company purchased an office suite for $47,000 cash. c. The company purchased office equipment for $5,300 cash. d. The company purchased $3,100 of office supplies and $1,900 of office equipment on credit. e. The company paid a local newspaper $880 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $4,200 for the service. g. The company designed a financial plan for another client and immediately collected a $8,900 cash fee. h. The company paid $1,800 cash in dividends to the owner (sole shareholder). I. The company received $3,200 cash as partial payment from the client described in transaction J. The company made a partial payment of $950 cash on the equipment purchased in transaction d. k. The company paid $1,700 cash for the office secretary's wages for this period. Required: 1. Enter the amount of each transaction on individual items of the accounting equation 2. Determine the company's net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Check my work Enter the amount of each transaction on Individual items of the accounting equation (Reductions in account balances should be indicated with a minus sign.) Asu Liabilities Equity Cash Accounts Recevabile Office Supplies Office Equipement Office Suite Accounts Payable Common Stock Didends Ravenues Expensas a. . + b + . Bal. 0 . 10 ++++++ 0+ 04 0 0 + 0 0 G. 0 0 0 +++ + 0 0 - 0 10 0 + 0 . 0 0 + Bal 0 0. +10 10 0 + 01 + . -0 e. 01 0 0 + . 0+ 0 + 0 +10 ... lo 0 0 10 Bal 1. Bal 0 . . + + 0 + 0 0 + 0 + 0 + 0 0 D 0 D - . 9 Bal 0 - .0 0 + 0 + D 0. . MO 0 0 0 h . + Bal 0 - 0 0 0 + O + 10 0 ++++ +O 1 O D . . Bal 0 + + 0 0. D O 0 0+ 0 0 1 + + . + 4 + Bal .10 04 10 0 0 0 + 0 +10 0 0 k, + Bal + $ ++ 0 - $ 0 $ 0 $ $ 0 + $ 0 - S 0 5 0 IS 0 $ 0 $ Required 2 > a. Lita Lopez invested $60,000 cash and office equipment valued at $34,000 in the company in exchange for its common stock. b. The company purchased an office suite for $47,000 cash. C. The company purchased office equipment for $5,300 cash. d. The company purchased $3,100 of office supplies and $1,900 of office equipment on credit e. The company paid a local newspaper $880 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $4,200 for the service. 9. The company designed a financial plan for another client and immediately collected a $8,900 cash fee. h. The company paid $1,800 cash in dividends to the owner (sole shareholder). 1. The company received $3,200 cash as partial payment from the client described in transaction f. J. The company made a partial payment of $950 cash on the equipment purchased in transaction d. k. The company paid $1,700 cash for the office secretary's wages for this period. Required: 1. Enter the amount of each transaction on individual items of the accounting equation 2. Determine the company's net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the company's net income. Net income
