Prepare Accounting Equation and Income statement, Retain Earning, balance sheet

1

Each owner equally contributed

$100,000 cash

to

Maitham Company

in exchange for stock

2

Purchased a building for an office in Honolulu, paying cash

$20,000

3

Purchased office supplies on account of agreeing to pay

$2,000

within 30 days

4

Provided

Programming services

and earned

10,000

revenue in cash

5

Provided

Programming services

for

5,000

The client did not immediately pay and promised to pay within one month

6

Opened a new office in

Manama

and paid

$500 for rent

for one-month rent

7

Hired employees and paid

(Salaries for employees)

for employees

1,500

8

Paid

$200

to the store from which you purchased office supplies in Transaction 3

9

Collected

$2,000

from the client from Transaction 5

10

Maitham Company

distributed

$1,000

to the stockholders

Prepare the accounting equation and the financial statements