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i have completed the chart but can not figure out the net income. please help. thank you! Lita Lopez started Biz Consulting, a new business,
i have completed the chart but can not figure out the net income. please help. thank you! Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $69,000 cash and equipment valued at $37,000 in the company. b. The company purchased a building for $42,000 cash. c. The company purchased equipment for $5,200 cash. d. The company purchased $3,700 of supplies and $1,100 of equipment on credit. e. The company paid $1,000 cash for advertising expenses. f. The company completed a financial plan for a client and billed that client $4,600 for the service. g. The company designed a financial plan for another client and immediately collected a $8,700 cash fee. h. L. Lopez withdrew $1,400 cash from the company for personal use. i. The company received $3,600 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $550 cash on the equipment purchased in transaction d. k. The company paid $2,500 cash for the secretary's wages for this period. Required: 1. Enter the amount of each transaction on individual items of the accounting equation. 2. Determine the company's net income. Determine the company's net income
i have completed the chart but can not figure out the net income. please help. thank you!
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