HW-2 - Chapt1 8. Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. Ints Skipped a. Lita Lopez invested $70,000 cash and office equipment valued at $10,000 in the company. b. The company purchased an office suite for $40,000 cash. c. The company purchased office equipment for $15,000 cash. d. The company purchased $1,200 of office supplies and $1,700 of office equipment on credit. e. The company paid a local newspaper $500 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $2,800 for the service. g. The company designed a financial plan for another client and immediately collected a $4,000 cash fee. h. Lita Lopez withdrew $3,275 cash from the company for personal use. I. The company received $1,800 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $700 cash on the equipment purchased in transaction d. k. The company paid $1,800 cash for the office secretary's wages for this period. Book Print in account balances should be Cash Accounts Receivable Assets Office Supplies Office Equipment + Office Suite - Llabilities Accounts Payable L Laper, Capital Equity L Lopez Revenues Withdrawals + b + + + + + Expenses + + Bar 0 0 0. 0 + C. = 0 0 + + 0 0 + Bal + + + + + + + O + 10 = 0 0 + 0 0 + + d 0 = + + 0 + 0 0 + 0 - Bal 0 0 + 0+ 10 + + 10 e 0 = + + D+ 0 . 0 + 0- + Bal * 0 . 0 + . 10 0 + 0. O- + 0 + 1 Bal + 0 0 + 0 + 0 0 + . 0 - 0 + . 0 + 9 0 0 + 0 + lo 0 + Bal + 0 + 0 + 0+ Ql+ 0 = + 0+ 0 0 + 0. + 0 Bal 0+ = 0 . 0 +10 0 - 1 0 + + 0 - + 0 + -10 0 + . Bal. O + 0+ 10 0 + = 0 + 0 + 0- 0 0 + + D + Bal. 0 + . 10 0 . 0 + 0 + 0 k 0 0 + + 0 . 0 = . Bal $ 0 + $ +10 $ 0 + $ 0 $ 0= $ lo $ - 0 $ 0 + 5 O $ D