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Mallin Moon is a freelance writer who submits articles to various magazines and newspapers. She operates out of a small office where she employs one
Mallin Moon is a freelance writer who submits articles to various magazines and newspapers. She operates out of a small office where she employs one administrative assistant. The following activities occurred during March 2023, her first month of business: a. Moon invested $3,200 worth of equipment into her business along with $3,700cash. b. Submitted a series of articles to The Globe and Mail and recelved $7,200cash. c. Purchased supplies on credit; $950. d. Paid the part-time administrative assistant's salary of $1,520. e. Moon ordered $3,700 of office equipment from the IKEA catalogue. It is scheduled to arrive in April or May. f. Paid the rent for the first month: $2.100. g. Submitted an article to Report on Business, will receive $5,200 next month. 1. Prepare an income statement. 2. Prepare a statement of changes in equity. 3. Prepare a balance sheet. Anolysis Component: Based on the ending balances of assets in the month end balance sheet identify which assets were financed by a. Llabilities, b. Owner investment, and c. Profit/Owners' equily. Also identify the amount(s) for each
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