Exercise 1 (70 points): intranet.euruni.net https://intranet.euruni.net/pluginfile.php/1227821/mod resource/content/0/Spri.. On 1" of March Brandon starts a new company of advertising services called NEWCO, Ltd. and realized the following transactions: 3 of March: NEWCO, Ltd. issued to Jason 100,000 shares in exchange of $100,000 3th of March: NEWCO, Ltd signs a renting contract for the offices. The price of the rent is $6,000 per month payable at the beginning of every semester. The company pays $36,000 the days of the contract. 4th of March: NEWCO, Ltd purchased furniture to ALL4OFFICE, Inc. for $15,000. NEWCO, Ltd paid $4,000 in cash, the remaining $11,000 will have to be paid by the end of the month. The company decides to record the purchase of the furniture as an asset. 4th of March: NEWCO, Ltd, signs a 12 months insurance contract for $6,000 paid cash the same day. 5th of March: NEWCO, Ltd purchased a computer system on account to CPU WORLD, Inc for $15,000, to be paid in June. The useful life the computer system is estimated to 5 years, no salvage value. 6th of March: NEWCO, Ltd makes some installations in the office for $1,500 paid in cash. The company decides to charge it to an expense account. 7th of March: NEWCO, Ltd hires one employee with a salary $2,000/month. Salaries are paid on the following day 2 of each month. 8 of March: NEWCO, Ltd Signs a contract for a work to perform for the first client: Mr. Starts. The fees amount to $7,000 paid in cash at the day of the signing of the contract. The work must be delivered at the end of the month 12 of March: OTHERCO, Inc. hires NEWCO, Ltd for a $45,000 project, payable the day 10 of the month of April 29th of March: NEWCO, Ltd. delivers the work done to MR. Starts paid on March 8th 30 of March: The company receives an electricity bill for $2,600 payable in June 30 of March, the company counts its furniture which amount to $4,000 31 of March, the company delivers the work ordered by OTHERCO, Inc