On April 1, Julie Spengel established Spengel's Travel Agency.

The following transactions were completed during the month.

1. Invested $15.000 cash to start the agency.

2. Paid $600 cash for April office rent.

3. Purchased equipment for $3,000 cash

4. Incurred $700 of advertising costs in the Chicago Tribune, on account.

5. Paid $900 cash for office supplies.

6. Performed services worth $10.000: $3,000 cash is received from customers, and the balance of $7,000 is billed to customers on account.

7, Withdrew $600 cash for personal use,

8. Paid Chicago Tribune $500 of the amount due in transaction (4).

9. Paid employees' salaries $2,500.

10. Received $4,000 in cash from customers who have previously been billed in transaction (6).

Complete the following:

1. Prepare a tabular analysis of the transactions using the following column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Owner's Capital. Owner's Drawings, Revenues, and Expenses

2. Prepare an Income Statement

3. Prepare a Statement of Owner's Equity

4. Prepare a Balance Sheet.

Analvze transactions and compute net income On April 1, Julie Spengel established Spengel's Travel Agency. The following transactions were completed during the month Invested \$15,000 cash to start the agency Paid $600 cash for April office rent. Purchased equipment for $3,000 cash. Incurred \$700 of advertising costs in the Chicago Tribune, on account. Paid $900 cash for office supplies. Performed services worth $10,000$3,000 cash is received from customers, and the balance of $7,000 is billed to customers on account. Withdrew $600 cash for personal use. Paid Chicago Tribune $500 of the amount due in transaction (4). Paid employees' salaries $2,500 10. Received $4,000 in cash from customers who have previously been billed in transaction (6) Instructions (a) Prepare a tabular analysis of the transactions using the following column headings. Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Owner's Capital, Owner's Drawings, Revenues, and Expenses. Value 50pts (b) Prepare an Income Statement. Value 6 pts (c) Prepare a Statement of Owner's Equity. Value 11 pts 23 (d) Prepare a Balance Sheet Value 18 pts. 24 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells SPENGEL'S TRAVEL AGENCY Spengel's Travel Agency Income Statement date?? Service Revenue Expenses Salaries and Wages Rent Advertising Net income Value \begin{tabular}{|l|} \hline? \\ \hline? \\ \hline? \\ \hline \end{tabular} \begin{tabular}{|l|} \hline? \\ \hline? \\ \hline \end{tabular} Spengel's Travel Agency Statement of Owner's Equity Date?? Spengel's Travel Agency Balance Sheet Date