Q8. Using what you have learned in conducting transaction analysis, prepare the financial statement (using a step by step process) detailing the financial transaction history of Company X in their first month of operations. Company X's financial history for their first month is outlined below. Jan. 1st - Mr Smith invested $6000 cash in Company X in exchange for common stock. Jan. 7th - Company X purchases $3500 in equipment on credit to keep cash in the business. Jan. 13th - The company provided $1300 worth of services for a client on credit. Jan. 21st - The same client recommended another firm who paid $800 cash for company services. Jan. 25th - The company paid $420 cash to an employee as a salary for helping with start up tasks. Jan. 30th - The company paid $150 to a business advisor in the form of dividends.

Q8. Using what you have learned in conducting transaction analysis, prepare the financial statement (using a step by step process) detailing the financial transaction history of Company X in their first month of operations. Company X's financial history for their first month is outlined below. Jan. 1st - Mr Smith invested $6000 cash in Company X in exchange for common stock. Jan. 7th - Company X purchases $3500 in equipment on credit to keep cash in the business. Jan. 13th - The company provided $1300 worth of services for a client on credit. Jan. 21st - The same client recommended another firm who paid $800 cash for company services. Jan. 25th - The company paid $420 cash to an employee as a salary for helping with start up tasks. Jan. 30th - The company paid $150 to a business advisor in the form of dividends