Question 1: CASE 1: John Davidson started her practice as a registered interior designer on February 3 of the current year. During the first month of operations, the business completed the following transactions: Feb 3 Davidson transferred $80,000 cash from her personal bank account to a business account titled John Davidson, Dietician. Feb 7 Purchased furniture on account; $700 .Feb 11 Performed services for a hospital and submitted a bill for service, $1000 Feb 15 Paid secretary's salary, $500 . Feb 20 Received partial collection from client on account $600 (issued on Feb 11) Feb 22 Davidson purchased a computer at a cost of $2,000, paid cash from personal funds. Feb 25 Borrowed $10,000 from the bank for business use 1) Prepare a journal entry 2) Prepare a trial balance 3) Prepare a financial statements (Balance sheet, Income statement, statement of owner's equity) Question 2: The following amounts summarize the financial position of H&R Young Corp. on May 31. ASSETS LIABILITIES. OWNER'S EQUITY Cash A/R Supplies A/P 3096 5832 43380 9720 Capital 42588 According to the following transactions prepare a cash flow statement. Transaction: a) Performed service and send $4000 bill to the customer b) Withdrew $2000 for personal use c) Received $2000 of A/R issued in transaction (a) d) Purchased equipment $1,300 and paid $300 in cash and the remaining on account e) Paid $1500 of electricity bill Paid $500 on account that issued in the transaction (d) from personal account