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Please fix what is wrong begin{tabular}{|c|c|c|c|c|} hline Transaction: & Net Income & begin{tabular}{l} Total Assets end{tabular} & begin{tabular}{c} Total Liabilities end{tabular} & begin{tabular}{l}
Please fix what is wrong
\begin{tabular}{|c|c|c|c|c|} \hline Transaction: & Net Income & \begin{tabular}{l} Total \\ Assets \end{tabular} & \begin{tabular}{c} Total \\ Liabilities \end{tabular} & \begin{tabular}{l} Total \\ Equity \end{tabular} \\ \hline Where can you go to find each of your answers? & \begin{tabular}{l} Income \\ statement \end{tabular} & \begin{tabular}{l} Balance \\ sheet \end{tabular} & \begin{tabular}{l} Balance \\ sheet \end{tabular} & \begin{tabular}{l} Balance \\ sheet \end{tabular} \\ \hline \begin{tabular}{l} April 1 Tanner invested $80,000 cash along with \\ office equipment valued at $26,000 in the company \\ in exchange for common stock. \end{tabular} & $ & 106,000 & 0 & 106,000 \\ \hline \begin{tabular}{l} April 2 The company prepaid $9,000 cash for 12 \\ months' rent for office space. The company's policy \\ is record prepaid expenses in balance sheet \\ accounts. \end{tabular} & 0 & 106,000 & 0 & 106,000 \\ \hline \begin{tabular}{l} April 3 The company made credit purchases for \\ $8,000 in office equipment and $3,600 in office \\ supplies. Payment is due within 10 days. \end{tabular} & 0 & 117,000 & 11,600 & 106,000 \\ \hline \begin{tabular}{l} April 6 The company completed services for a \\ client and immediately received $4,000 cash. \end{tabular} & 4,000 & 121,600 & 11,600 & 110,000 \\ \hline \begin{tabular}{l} April 9 The company completed a $6,000 project \\ for a client, who must pay within 30 days. \end{tabular} & 10,000 & 127,600 & 11,600 & 116,000 \\ \hline \begin{tabular}{l} April 13 The company paid $11,600 cash to settle \\ the account payable created on April 3 . \end{tabular} & 10,000 & 116,000 & 0 & 116,000 \\ \hline \begin{tabular}{l} April 19 The company paid $2,400 cash for the \\ premium on a 12-month prepaid insurance policy. \\ The company's policy is to record prepaid expenses \\ in balance sheet accounts. \end{tabular} & 10,000 & 116,000 & 0 & 116,000 \\ \hline \begin{tabular}{l} April 22 The company received $4,400 cash as \\ partial payment for the work completed on April 9 . \end{tabular} & 10,000 & 116,000 & 0 & 116,000 \\ \hline \begin{tabular}{l} April 25 The company completed work for another \\ client for $2,890 on credit. \end{tabular} & 12,890 & 118,890 & 0 & 118,890 \\ \hline \begin{tabular}{l} April 28 The company paid $5,500 cash in \\ dividends. \end{tabular} & 12,890 & 113,390 & 0 & 113,390 \\ \hline \begin{tabular}{l} April 29 The company purchased $600 of \\ additional office supplies on credit. \end{tabular} & 12,890 & 113,390 & 600 & 113,390 \\ \hline \begin{tabular}{l} April 30 The company paid $435 cash for this \\ month's utility bill. \end{tabular} & 12,455 & 113,555 & 600 & 112,955 \\ \hline \end{tabular}Step by Step Solution
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