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Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of ope a. Lita Lopez invested $60,000 cash
Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of ope a. Lita Lopez invested $60,000 cash and equipment valued at $33,000 in the company b. The company purchased a building for $49,000 cash. c. The company purchased equipment for $5,900 cash. d. The company purchased $3,200 of supplies and $2,000 of equipment on credit. e. The company paid $810 cash for advertising expenses. f. The company completed a financial plan for a client and billed that client $4,300 for the service. g. The company designed a financial plan for another client and immediately collected a $8,600 cash fee. h. L. Lopez withdrew $1,600 cash from the company for personal use i. The company received $3,300 cash as partial payment from the client described in transaction f j. The company made a partial payment of $1,000 cash on the equipment purchased in transaction d k. The company paid $1,600 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. 1 b. Balance after a and b C Balance after c recerepte Seved + + + 4 + + + Help Save & Exit Submit + 7 d + + + points Balance after d + . + + + + + Balance after e + 4 ' . + Balance aller f + . + + + + Balance after g h + 4 + . + Balance after h + + + + + + . Balance after i + 4 Balance after) + + + f + 4 + + + Balance after k + + + + + + Saved ducation.com%252Fmghmiddleware%2 Help Save & Exit Supplies Equimmam Building Accounta Loper L.Lope Payabil Capital Withdrawals Revenues Expenses + + + + + + + + + Required: 1. Enter the amount of each transaction on individual items of the accounting equation 2. Determine the company's net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the company's net income. Net income < Required 1 Required 2>
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