i need help with questions 1-6

The Main Street Casuals Shoppe, Inc. ain Street Casuals Shoppe, Inc. (MSCS), is a retall merchandiser that sells cothing to both t purchases merchandise from numerous manufacturers, all on account, and s to the public, generally for cash (cash, checks and credit cards), but also has corporate omers (restaurants, doctors' offices, etc.) who purchase specialty items. These specialty s are usually matching shirts and pants embroidered with the customers' name and logo on the garments. These commercial clients generally pay MSCS within 30- 60 days after delivery men and women of the garments. MSCS was incorporated on January 2, 2018 by Walter White. Mr. White was able to convince numerous relatives to invest in the business entity. The following transactions occurred during the month of January 2018 January 4 Walter White deposited $200,000 from his investors into a bank account in the name of MSCS January 6 The company purchased a building at 300 Main Street, Flushing New York. Walter, as president of the company signed a promissory note for $350,000 and used $50,000 of the companys money for the balance. The building had an appraised value of $300,000 and the land had an appraised value of $100,000. The note was an interest only note at 6% per year. The note principal was due on January 6, 2021. January 8 The company purchased, for cash, $40,000 of Furniture and Fixtures from another store owner who no longer needed them. January 18 The first employee of MSCS was hired for a salary of $500 per week. Payday was to be each Friday. January 20 The company purchased in advance 4 months newspaper advertisements from the Flushing Tribune. The ads were to run beginning February 1, 2018. Total cost paid in advance $4,000. January 22 Employee number 1 was paid for the week Scott Ruthizer, MBA CPA 2018 pg. 1