Mengi Review TER el AaBT Emphasis Heading 2 Normal Strong Subtitle Title To Soari Paragraph MODERBROEDERSE On the 1st March 2012 Wiliam set up a business as an Accountant William has had several years' experience with a large CPA firm in Sydney and when he received a large inheritance from a long lost relative, he decided now was the time to take the risk of being his own boss. The following transactions occurred during his first month of the operation 1 Contributed $50,000 to the accounting practice 1 Wiliam agreed to rent a large office space from his good friend Zia Ahmed 3 William and his girlfriend spent the morning shopping for office furniture and equipment He managed to negotiate credit terms for 7 days and received a discount on the furniture and equipment. The original price of was $29,500 but the invoice price is $28.000 5 Purchased two computers, two printers and a modem for the business, paid $10.000 cash 5 Pad S1000 for the first month's rent on office space 7 Hire a personal assistance and agreed to pay $100 per week Willam completed a tax return for a desperate client and received $500 cash Paid for the office furniture and equipment Paid his personal assistant $400 25 Sentan invoice to a client for services rendered of $2425 21 Paid his personal assistant 3400 9 12 14 4 balan C 5 & 7 6 8 9 O backspace et Emphasis Heading 2 T Normal Strong Subtitle Title Paragraph Styles He managed to negotiate credit terms for 7 days and received a discount on the furniture and equipment. The original price of was $29,500 but the invoice price is $28,000 Purchased two computers, two printers and a modern for the business, paid $10,000 5 cash 5 7 9 12 14 Paid $1000 for the first month's rent on office space. Hire a personal assistance and agreed to pay $400 per week William completed a tax return for a desperate client and received $500 cash Paid for the office furniture and equipment. Paid his personal assistant $400 Sert an invoice to a client for services rendered of $2425 Paid his personal assistant $400 Paid utilities expenses of $300 Withdraw from bank $1200 for personal use. 25 21 30 30 MCCOBAR 2010 DSC delete cmpSES No Strong Subt Paragraph Styles 11! 3145 61 111 112 13-14-15 Required: a Prepare the following statements for the month of March, An Income Statement A Statement of Changes in Equity, and A Balance Sheet Hints. To start with first prepare journal entry and cash ledger [Answer here) (hp