• For Q2 you should make a single table for the events. Excel is the encouraged tool to solve it. Any other tools will be accepted

• 2. ComputerWiz Repairs Store

  After several months of planning, Ralph Murphy started a computer repairs business called ComputerWiz in January 2021. The following events occurred during its first month:

• a) Murphy started the firm on January 1 with $40,000, 50% of which came from personal funds and the rest from a bank loan with an annual interest rate of 5% due in December 2021.

• b) ComputerWiz purchased a truck that costs $17,500 with cash.

• c) ComputerWiz paid $3000 cash for 6 months rent ($500/month) including the current month.
• d) The company obtained $1700 of equipment for the shop with $500 cash and the remaining on account.
• e) ComputerWiz hired a worker to paint the store for opening and paid him $200 in cash for the services.
• f) ComputerWiz opened for business. TechLimited paid $600 in cash for future services.
• g) During the month, the firm provided the services to TechLimited worth $300.
• h) The firm hired an assistant and owes her $100 for working during the grand opening. The firm will pay next month
• i) Cash received from consulting services in the second half of January was $1,500.
• j) The Company paid the bill for the equipment obtained on account in d) above.
• k) The firm accrued interest on the for the first month of the loan incurred in a). They will pay cash quarterly.