Determine the missing amount for each of the following equations:
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6:47 PM 1 80% Il chatr Lab 2 - E1-20, E1-21 S2021.docx Lab 3 Record transactions and create financial Statements. Exercise 1-20Effects of transactions on the accounting equation L06,7 X CHECK FIGURE: Mailin Moon, Capital = $13,650 Mailin Moon is a freelance writer who submits articles to various magazines and newspapers. She operates out of a small office where she employs one administrative assistant. The following activities occurred during March 2017, her first month of business: a. Moon invested $2,500 worth of equipment into her business along with $3,000 cash. b. Submitted a series of articles to The Globe and Mail and received $6,500 cash. c. Purchased supplies on credit: $600. d. Paid the part-time administrative assistant's salary of $1,450. Page 58 e. Moon ordered $3,000 of office equipment from the IKEA catalogue. It is scheduled to arrive in April or May. f. Paid the rent for the first month: $1,400. g. Submitted an article to Report on Business; will receive $4,500 next month. Using the format provided below, show the effects of the activities listed in (a) through (g). For each transaction that affects equity, include a brief description beside it (owner investment, owner withdrawal, revenue, rent expense, and salaries expense) 1 80% Il chatr 6:48 PM Lab 2 - E1-20, E1-21 S2021.docx Exercise 1-21Financial statements LO8 ** CHECK FIGURES: Profit = $8,150; Total assets = $14,250 Using your answer from Exercise 1-20, prepare an income statement, a statement of changes in equity, and a balance sheet using the formats provided. Use the format provided below for the financial statements. Malowe Star FM 1067 Multi Mures Pro March 1, 2017 G Account So Analysis Component: Identify which assets were financed by: a. Liabilities b. Owner investment c. Profit/Owners' equity Also identify the amount(s) for each