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Prepare an expanded accounting equation worksheet for the Zeon Company to show the effect of the following transactions on the given dates our accounting period
- Prepare an expanded accounting equation worksheet for the Zeon Company to show the effect of the following transactions on the given dates our accounting period is January:
- January 2 Investment of $75,000 in cash into the business by stockholders.
- January 4 Paid $10,000 in cash toward a building that cost $90,000 with the rest being borrowed from the bank to be paid back in 5 years.
- January 10 Bought inventory on credit for $4,200
- January 14 Paid cash wages to employees who worked in January for the business for $950.
- January 21 Sold merchandise for $2,900 in cash. This merchandise (inventory) originally cost $1,500.
- January 30 Received a bill from the utilities company for $300 for utilities used during January that will be due in February.
- January 31 Paid cash dividends of $100 to stockholders.
- Prepare the income statement, statement of stockholders equity, balance sheet and cash flow statement for the month of January for Zeon.
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