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PROBLEM: - Making an Accounting Equation Table and Financial Statements At the beginning of April, Muhammad launched a custom computer solutions company called Softworks.

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PROBLEM: - Making an Accounting Equation Table and Financial Statements At the beginning of April, Muhammad launched a custom computer solutions company called Softworks. The company had the following transactions during April. a. Muhammad invested $95,000 cash, office equipment with a value of $7,500, and $38,000 of computer equipment in the company. b. The company purchased land worth $23,000 for an office by paying $5,000 cash and signing a long-term note payable for $18,000. c. The company purchased a portable building with $33,500 cash and moved it onto the land acquired in b. d. The company paid $6,000 cash for the premium on a two-year insurance policy. e. The company provided services to a client and immediately collected $4,400 cash. f. The company purchased $4,500 of additional computer equipment by paying $900 cash and signing a long-term note payable for $3,600. g. The company completed $4,650 of services for a client. This amount is to be received within 30 days. h. The company purchased $750 of additional office equipment on credit. i. The company completed client services for $10,900 on credit. j. The company received a bill for rent of a computer testing device that was used on a recently completed job. The $320 rent cost must be paid within 30 days. k. The company collected $5,100 cash in partial payment from the client described in transaction i. 1. The company paid $1,800 cash for wages to an assistant. m. The company paid $750 cash to settle the payable created in transaction h. n. The company paid $680 cash for minor maintenance of the company's computer equipment. o. Muhammad withdrew $6,630 cash from the company for personal use. p. The company paid $1,900 cash for wages to an assistant. q. The company paid $550 cash for advertisements on the web during April. Required 1. Make a Table showing how these transactions impact Accounting Equation 2. Prepare an income statement 3. Prepare statement of owner's equity 4. Prepare a Balance Sheet at end of April

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