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Please help me answer the following questions below using the following images. I am studying for one of my accounting exams and want to make
Please help me answer the following questions below using the following images. I am studying for one of my accounting exams and want to make sure I did this assignment correctly :) . Thank you!
The University of Texas at Austin Mccombs School of Business Foundations of Accounting (ACC 310F) Assignment 3 on LAAC Once you have completed the assignment below, you must submit your answers using the answer sheet provided in Canvas; not all answers will be turned in and not all answers will be graded. Once submitted, your answers cannot be changed, but where appropriate, partial credit will be given. For future reference, you should keep a copy of your answers (outside of Canvas) as they will not be available to view given the nature of the grading process. The Aguilar Corporation had the following tabular analysis, using the same abbreviations as those used in class: Assets Liabilities +_Owner's Equity Cash Pre. Unearn. A/R Supp. Equip. A/D A/P N/P C/S R/E Exp. Rev. 12.200 2.400 0 380 0 0 2,200 1.580 700 8,060 2.440Reguired: 1. Record each of the following transactionslevents in the tabular analysis above including the date of each transaction as well as descriptions of amounts in the Cash and RE columns. .t-Mar Borrowed $40,000 from a bank. .t-Mar Purchased equipment for $35,400; management expects It will be useful for 3 Iyears at which time it should be worth $1,300. .t-Mar Performed $4,000 of consulting services for customers; sent bill. .t-Mar Purchased a four month Insurance policy for $330. .t-Mar Paid employee payroll owed from previous month of $330. .t-Mar Paid rent of $1J300 for administrative office space for the month. -Mar Received $550 from customers for services previously performed on account. 10-Mar Purchased supplies for $210. 12-Mar Paid advertising of $430. iii-Mar Performed $3,300 of services for customers. 22-Mar Received $500 from a cLstomer for services sold in advance. Elia-Mar Received and paid utility bill of $55. 31-Mar Made $200 payment on bank loan. 31-Mar Paid dividends of $500. 31-Mar Unpaid employee payroll totaled $350. 31-Mar Supplies on hand reported at $100. 2. Use the resulting tabular analysis to prepare an income statement, statement of retained earnings. balance sheet and statement of cash flows for March. 3. Record the necessary transaction related to the equipment assuming it was sold for $30,000 on April 15' of the same year. - Page1of1nStep by Step Solution
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