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I'm having trouble with the Statement of Owner's Equity and the Balance Sheet! PLEASE HELP!!! Problem 1-5B Page 48 Problem 1-5B Objective: To record business

I'm having trouble with the Statement of Owner's Equity and the Balance Sheet! PLEASE HELP!!!

  1. Problem 1-5B

Page 48 Problem 1-5B Objective: To record business transactions and prepare financial statements

Cynthia Killingsworth is a CPA who started her own practice on October 1, 2001. During October, she completed the following transactions: (a) Cynthia invested the following in the firm: cash, $9,800; office supplies, $600; office equipment, $5,200. (b) Paid rent for the month, $650. (c) Purchased a computer for $2,400 on credit. (d) Purchased a copier for $10,000, paying $1,000 down and agreeing to pay the balance in three equal installments. (e) Performed services for cash, $1,350. (f) Wrote business checks for personal bills, $600. (g) Purchased a printer for cash, $595. (h) Purchased printer ink for cash, $90. (i) Performed services on credit, $1,800. (j) Paid utilities for the month, $295. (k) Paid cash for a new office desk, $900. (l) Collected $750 for the services performed in Transaction (i). (m) Paid for the computer purchased in Transaction (c). (n) Paid salary of part-time employee, $600. (o) Paid first installment due on the copier purchased in Transaction (d).

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