Donald and friends had the following events in 2018. 1. performed dry cleaning services for $40,000 cash 2. On February 1, 2018, paid $20,000 cash to rent office space for the coming year 3. Adjusted the accounts for the amount of rent used during the year

a. complete the accounting equation for the different transactions. b. prepare an income statement. c. prepare a year-end balance sheet. d. prepare the statement of cash flow.

=== Custom Wrap Text Merge & Center - Paste $ - % Calibri BIU-B Clipboard Fol Font F48 X . 12 - A O A s fx 21667 Alignment Number H Point AA B C D E F G 1 2.6 Recording transactions in the Accounting Equation and Financial Statements 2 Background Information: Donald Duck and Friends had the following events 3 in 2018. 4 5 Ever Description of Event 6 1 Performed dry cleaning services for $40,000 cash 7 2 On February 1, 2018, paid $20,000 cash to rent office space for the coming year 8 3 Adjusted the accounts for the amount of rent used during the year 10 a) Complete the accounting equation for the different transactions. 14 Event Donald and Friends Company Accounting Equation Assets Cash + Prepaid Rent Stockholders Equity Retained Earnings 16 1 17 2 18 3 19 Total 20 21 Problem 2.3 Problem 2.4 Problem 25 Problem 2,6 Puede Type here to search Donald and friends had the following events in 2018. 1. performed dry cleaning services for $40,000 cash 2. On February 1, 2018, paid $20,000 cash to rent office space for the coming year 3. Adjusted the accounts for the amount of rent used during the year a. complete the accounting equation for the different transactions. b. prepare an income statement. c. prepare a year-end balance sheet. d. prepare the statement of cash flow