Jemma Hayes worked as an accountant at a local accounting firm for five years after graduating from college. She recently opened her own accounting practice, which she operates as a corporation. The name of the new entity is Hayes and Associates, Inc. Jemma experienced the following events during the first month of operations. Some of the events were personal and did not affect the accounting practice. Others were business transactions and should be accounted for by the business.

Requirements:

1. Enter each transaction in the accounting equation of Hayes and Associates, Inc., as needed, calculate new balances after each transaction.

2. Determine the following items:

a. Total assets

b. Total Liabilities

c. Total stockholder's equity

d. Net income or net loss for November