s you need to edit. It's safer to stay in Protected View. Enable Editing During the last three months (April, May, and June) of the first fiscal year of operations of My Assistant, a few new types of transactions began to occur. These involve different ways the company is paying for some items, different ways the company is being paid, and the earning of interest. In all cases, keep in mind that economic events need to be reported when they occur (when revenues are earned and when expenses are incurred) regardless of when cash is exchanged. I Below are summaries of transactions completed during April-June. 1. Paid the social media manager the amount owed from March 2. Colected $490 of accounts receivable from March 3. Purchased supplies of $100 on account. 4. Received $3,600 in exchange for completing 240 jobs, less a $180 fee due to PayPal. 5. In April, May, and June completed 140 jobs on account for clients with standing appointments. Each client was billed at the rate of $15 per job. 6. Collected $1.500 of accounts receivable from April and May. 7. Purchased and used gas of $740 in order to complete jobs. 8. Poid the newspaper $600 for advertising for April - September. 9. Collected three months' worth of service fees. $174, in advance from a client with a standing appointment. Because the client is paying advance, W.T. offered a discounted rate of $14.50 per job. Services will be provided in June, July, and August 10. Paid the social media manager $530. This amount represented her monthly fee and fee for 230 of the jobs scheduled during April, May, and June. 11. Paid friends $960 to complete 80 jobs during April, May, and June. 12. Paid $75 on accounts payable. 13. Paid a salary of $1.200 to W.L. 14. Repaid W.1.'s aunt $200 of the total amount owed to her. 15. On June 30, purchased $500 of equipment to assist in the completion of jobs. Information for adjusting entries: 16. As of June 30, determined that the social media manager is owed her scheduling fee for 10 jobs scheduled and completed over the last few days of the month. 17. Determined that there are $30 of supplies on hand at June 30, 18. The advance payment for advertising Event 8 was paid on April 1 and was for advertising beginning that same day. 19. The advance payment received from the client Event 9) was received on June 1. For this particular client services are provided equally in each month. 20. Recognized $5 of accrued interest revenue. For each of the above transactions, 1. Record the transactions in the appropriate general ledger accounts under an accounting equation. Record the amounts of revenue and expense in the Retained Eorings column. Provide the appropriate lities for these accounts in the last column of the table 2. Prepare the income statement statement of changes in stockholders' equity and tota's necessary for the balance sheet and statement of cash flow for My Assistant, Inc. for its first fiscal year (July 1 - June 30). O BI Search Stected View - Saved to this PC- ences Malings Review View Help ses. Unless you need to edit, it's safer to stay in Protected View. Enable Editing I Assets Accounts for RE nem Stockholders Equity C RE Stock $100 $1482 int Liabilities Acct Uneam Poy Rey $0 $0 Ppd. Ad Equio Notes Poy Acet Rec $200 Fees Pay $25 Cash $1507 Rec Supp $15 30 Bal41 1 2 4 5 6 7 9 10 11 12 13 14 18 1 20 o Saved to this PC ings Review View Help Enable Editing u need to edit it's safer to stay in Protected View My Assistant, Inc. Income Statement For the Year Ending June 30 Revenues: Total Revenues Operating Expenses Total 30 Qur 47 Qir $5,310 Income Statement Work Paper: 11 and 2 Qir Revenues: Service Revenue $8.400 Interest Revenue Operating Expenses: Collection fee $ 412 Gas Expense 1.025 Personal Svc Fee 4.560 Salary Expense 1,400 Supplies Expense 0 Advertising Expense Total Operating Exp. $7.997 $191 855 1.295 1.200 25 $3.924 . i $ A e search aved to this PC- Review View Help gs Enable Editing need to edit, it's safer to stay in Protected View My Assistant, Inc. Statement of Changes in Stockholders' Equity For the Year Ending June 30 Common Stock Retained Earnings Total Stockholders' Equity Beginning Balance Plus: Plus Less: Ending Balance On its balance sheet for the current year, My Assistant should report $ Total Assets $ Total Liabilities $ Total Stockholders' Equity $ Total Liabilities and Stockholders' Equity E >