Pre-Core Accounting Assignment 1 Part A: November 2019 (BCSL first month of operation) On November 1, 2019, Joseph Johnson organized a computer service business called Breton Computer Systems Ltd. (BCSL). Joseph has decided that he will use December 31 as the year end for the company. During the month of November, the following transactions occurred: Date Transaction Nov 1 Joseph invested $80,000 cash, a $30,000 computer system and $15,000 of office furniture in exchange for common shares. 2 Paid 4 months rent in advance for $8,000 3 Purchased $3,000 of computer supplies on credit from ABC Ltd 5 Paid $4,800 cash for a one year liability insurance policy 6 Billed XYZ Co $8,000 for installing a computer system 8 Paid for the computer supplies purchased on November 3rd 10 Hired Bob Smith as a part-time assistant at a rate of $200 per day as needed 12 Billed RST Co for $4,000 for computing services 15 Received $8,000 from XYZ Co for the November 6th billing 17 Paid $1,500 for repairs to computer equipment 20 Paid $3,500 for advertising in the local newspaper 22 Received a partial payment from RST Co of $1,000 for the November 12th billing 28 Billed Y Co $5,000 for a computer installation 30 Paid Bob Smith for 7 days of work 30 Paid Joseph Johnson a $3,500 dividend BCSL has approached the Commercial Bank to see if they would qualify for a loan to expand the business. The bank would like to see a November 30, 2020 Balance Sheet, Income Statement and Statement of Retained Earnings. Part A Requirements: 1. Prepare a tabular analysis of all the November transactions. Include dates and descriptions to help organize your work. (15 marks] 2. Enter any month-end adjustments (accruals and deferrals) into the table, including dates and descriptions. [10 marks] 3. Prepare an income statement for the month ended November 30, 2020 [10 marks] 4. Prepare a retained earnings statement for the month ended November 30, 2020 [5 marks] 5. Prepare a balance sheet as at November 30, 2020. (15 marks]