Financial position Accounts Assets Office Cash + Receivable + Supplies + Furniture = Payable + = Liabilities + Owner's Equity Accounts M. Rainer, Capital Bal 50,000 + 37,000 + 0 + 99,000 = 73,000 + 113,000 Print Done + Transactions Sep. 3 Rainer deposited $86,000 cash in the business bank account. Performed services for a client and received cash of $6,800. 4 9 Paid off the August 31, 2020, balance of accounts payable 15 Purchased office supplies on account, $6,700. 18 Collected cash from a customer on account, $7,900. 19 Consulted on a large downsizing by a major corporation and billed the client for services rendered, $53,000. 22 Recorded the following business expenses for the month: (1) Paid co-op students for salaries-$5,800. (2) Paid advertising-$4,200. 24 Purchased office supplies at an auction for $1,900 cash. 29 Rainer withdrew $8,200 cash. 6,700 + Services fo nts and ent Print Done - X Requirement 1. Analyze the effects of the transactions on the accounting equation of Rainer Personnel Services (If a box is not used in the transaction leave the b decreases. Abbreviations used: A/P = Accounts Payable; A/R = Accounts Receivable; Adv. Rev. Advertising Revenue; Exp. = Expense; Furn. = Furniture; Re Complete an analysis of the transactions for each date, and then total the balance of each account at the bottom Assets =1 Liabilities + Cash + A/R + Office Supp + Furn =1 A/P + M Rainer, Capital Owner's Equity Service + Rev Adv Exp Salanes Exp Bal 50,000 + 37,000 + 0+ 99,000 = 73,000 + 113,000 + 0- 0 0 9/3 86,000 + + + + 86,000 + 1 9/4 6,800 + + 6.800 9/9 (73 000) = (73,000) + 1 1 9/15 + 6,700 + =1 6,700 + 9/18 7,900 + (7,900) + + + + 9/19 + 53,000 + + + 53.000 9/22 (1) (5,800) + 5.800 (2) (4 200) 4.200 H Type here to search O AMADAY B of Rainer Personnel Services (If a box is not used in the transaction leave the box empty, do not select a label or enter "0." Use parentheses or a minus sign for ceivable; Adv. Rev. Advertising Revenue; Exp. Expense; Furn. Furniture; Rev. Revenue; Supp. Supplies.) of each account at the bottom Rainer, Capital Owner's Equity Service 4 Rev Adv Exp Salaries Exp 0 0 0 113.000 + 86,000 4 + 6.800 53.000 5.800 4.200 9/29 + (8,200) + $ 57,600 $ 82,100 $ 8,600 $99,000 Bal $ 6,700 $ 190,800 $59,800 $ 4,200 + $ 5,800 + + $ 247 300 $ 247,300 Requirement 2. Prepare the income statement of Rainer Personnel Services for the month ended September 30, 2020 Begin with the heading of the statement and then choose the accounts and enter the corresponding amounts (Use parentheses or a minus sign for a net loss.) Type here to search O HD-1080- B 9/18 9/19 + + 53,00 9/22 (1) = 2 (5 Balance Sheet For the Month Ended September 30, 2020 (2) (4 + 9/24 (1 For the Year Ended September 30, 2020 + + ( 9/29 (8,200) Income Statement + + $ 5 00 $ 190,800 $59,80 Bal + + Rainer Personnel Services $ 247,300 Requirem September 30, 2020 Begin with Statement of Owner's Equity rvices for the month ended Septe and enter the corresponding amo 9/22 + 53,000 Balance Sheet (1) + (2) + + 4,2 For the Month Ended September 30, 2020 9/24 (1 + + 9/29 ( For the Year Ended September 30, 2020 (8,200) + + $ 5 Bal Income Statement 00 $ 190,800 $59,800 $ 4,20 + + $ 247,300 Requireme Begin with Rainer Personnel Services September 30, 2020 Statement of Owner's Equity rvices for the month ended September 30, 2020 and enter the corresponding amounts (Use par 9/18 7,900 + (7,900) + 9/19 + 53,000 + + + 9/22 + + 53,000 (1) ;) + Balance Sheet (2) (4 4,200 9/24 (1 For the Month Ended September 30, 2020 + 9/29 (8,200) + For the Year Ended September 30, 2020 $5 00 $ 190,800 $59.800 $ 4,200 Bal + $ Income Statement 247 300 Requirem Rainer Personnel Services Begin with September 30, 2020 Statement of Owner's Equity rvices for the month ended September 30, 2020 and enter the corresponding amounts (Use parenth