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Question 4 [50 points] Bentley Inc. began operations on April 1, 2014. The transactions for the first month follow. a. Bentley Inc. issued shares
Question 4 [50 points] Bentley Inc. began operations on April 1, 2014. The transactions for the first month follow. a. Bentley Inc. issued shares to shareholders for $100,000. b. Bentley Inc. rented machinery to a customer on credit; $800. c. A client rented equipment for $5,500 cash. d. Bentley Inc. paid $800 for supplies purchased today. e. Bentley Inc. provided $2,250 of consulting services for a customer who will pay within 30 days. f. Bentley Inc. used $100 cash and $500 credit to purchase $600 of supplies. g. Bentley Inc. paid $100 for supplies purchased today. h. Bentley Inc. paid this month's $150 utilities bill received today. i. Bentley Inc. received $800 towards payment for the services provided in transaction (b). j. Bentley Inc. paid dividends of $2,400 to the shareholders. Fill out the following table, according to the transactions above. Select the headings for each column by clicking on the approp whether it was caused by issuance of share capital (investment), a revenue, an expense or payment of dividends. Identify rev sign is required for totals). In addition to this, prepare an income statement, a statement of changes in equity and a balance sheet for the month ended A a) Complete the following accounting equation table: Assets + + (a) (b) Liabilities Equity + Share Capital + Retained Earnings Explanation
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