PLEASE GIVE DETAILED ANSWERS.

1.) You open a bank account on January 1 with a deposit of $75,000 of your own money and you are the only investor in the company. Briefly explain how this particular transaction should affect the financial statements (in other words, will it come through on the Income Statement or the Balance Sheet) .

2.) Open the invoice from "Office Zone". Briefly explain how this particular transaction should affect the financial statements (in other words, will it come through on the Income Statement or the Balance Sheet). (PLEASE FIND THE "OFFICE ZONE" INVOICE BELOW)

3.) You decide to depreciate the equipment you purchase from "Office Zone" over 5 years with no residual value. Depreciation is calculated at the end of each month. Calculate depreciation on the equipment you purchased from "Office Zone" for January, February, and March. Briefly explain how this particular transaction should affect the financial statements (in other words, will it come through on the Income Statement or the Balance Sheet)

INVOICE Office Zone 82698 Highway 380 Aubrey, Texas 75069 Date: January l Project description: Equipment Purchase Invoice Number: 67890 QUANTITY UNIT PRICE cos DESCRIPTION 45,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Subtotal Tax 8.25% Total Please reference Invoice Number in Memo of check. Pay ment is due immediately. Sincerely yours, Office Zone Management 45.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 45.000.00 0.00 45,000.00