Homework: Chapter 1 Homework Score: 0 of 10 pts of 200 complete) HW Score: 0%, 0 of 20 pts P1-46A (similar to) E Question Help Alana Parker recently opened her own law office, which she operates as a corporation. The name of the new entity is Alana Parker, Attomey Parker experienced the following events during the organizing phase of the new business and its first month of operation, March 2016. Some of the events were personal and did not affect the law practice. Others were business transactions and shouldbe accounted forby the business (Click the icon to view the transactions.) Read the requirements Requirement 1. Analyze the effects of the preceding events on the accounting equation of Alana Parker, Attorney Analyze the events chronologically, one transaction at a time. Beginning with the transaction on the 2nd, calculate the balance in each account after analyzing the effect of the transaction on the accounting equation. After calculating the ending balance of each account on the 31st calculate total assets and total liabilities and equity (Complete only the necessary answer boxes for your transa transaction lines.] If a transaction is personal and does not affect the business, leave the transaction line blank. Carry down all balances to the "Bal More info an account with a minus sign or parentheses. Abbreviations used: P AP Accounts AR Accounts Receivable, Com Common Contr. Ca Liabilities; Misc Miscellaneous Rev. Revenue: Sup. Supplies Util Utilities ASSETS LIAB. EQUITY Mar. 1 Sold personal investment in Amazon stock, which she had owned for Contr. several years, receiving $35,000 cash. Retained Earnings 2 Deposited the $35,000 cash from the sale of the Amazon stock in her personal bank account. Cash Office Comp Div. Service Uti Misc. 3 Deposited $87,000 cash in a new business bank account titled Alana Sup. Stock Parker, Attorney. The business issued common stock to Parker. 5 Paid $400 cash for ink cartridges for the printer. 7 Purchased computer for the law office, agreeing to pay the account, $9,200, within three months 9 Received $2,900 cash from customers for services rendered, 15 Received bill from The Lawyer for magazine subscription, $250. (Use Miscellaneous Expense account.) 23 Finished court hearings on behalf of a client and submitted a bill for legal services, $11,000, on account. 28 Paid bill from The Lawyer Enter any number in the edit fields and then click Check Answer 30 Paid utilities, $1,400. Received $3,800 cash from clients billed on Mar. 23 14 parts Clear Al remaining Cash dividends of $6,000 were paid to stockholders