Record the following transactions of Speedy Computer Service, owned by Bill Smith, for the month of March 2019.

Mar 1. Bill Smith invested $3,000 cash to start the business. 15. Bill provided services and received cash amounting to $5,400 from customers. 16. Purchased supplies on account, $100. 17. Paid for gas and oil, $800. 18. Paid salaries, $5,000. 21. Provided service on credit, $600. 28. Bill provided services and received cash amounting to $6,000. 29. Paid for truck and equipment rental, $2,500. 30. Bill Smith withdrew cash of $2,000 for his personal use. Required: Record the above transactions in general journal form.

Prepare a trial balance after posting the entries to T-accounts (you can make your own T-accounts).

Prepare an income statement from trial balance.

Prepare a statement of owners equity from the trial balance and income statement.

Prepare a balance sheet using the trial balance totals and the statement of owners equity.

Explain why the companys cash balance does not agree with net income.