Exercise C The balance sheet of the business is following: 1. Machinery 2. Prepaid expenses 3. 4. 5. Intangible assets 6. Accumulated profit of previous years Property, plant & equipment under construction Long-term financial assets 1500 1000 100 1 200 2000 3 000 7. Goods for resale 8. Net profit 9. Cash in bank 400 1 200 15 800 10. Materials 11. Trade receivables 12. Tax liabilities 13. Cash in hand 14. Short term bank loan 15. Trade liabilities 16. Work in progress 17. Share capital 2100 300 200 10 500 1100 1400 50 ? In September, 1 20xx Michael Moe incorporated Moe's Mowing Inc. During September the business incurred the following transactions: 1. Michael deposited 10 000 S cash in the business's bank account. The business received the cash and issued shares to Michael. 2. The business purchased land for 35 500$ on account. 3. The business purchased office supplies for 800 $ for cash. 4. The business paid 500 S cash towards the land previously purchased on account in transaction 2. 5. The business paid prepayment 900 S cash to John (employee). 6. Employee was charged for damage of tools 7. The business purchase motorcycles 5 000 S for staff-pay half cash; half short-term credit 8. The business purchase 12-month an insurance policy for 9 000 $ (cash) Required: a) Draw the general format and prepare a Balance Sheet and calculate share capital b) For the following transactions, show how these affect the Balance Sheet (A+/A-, A/L -, A/ E+...) c) Create t- accounts and record the transactions