Statement of stockholders' equity

The revenues and expenses of A$-$One Travel Service for the year ended August $31,20$Y$6,$ follow:

$\backslash$table$[[$Fees earned,$$1,150,000$

LUCKY MEDICAL

TRANSACTIONS FOR DECEMBER

Transaction Description

a$).$ Beginning Balances input for you

b$).$ Purchased supplies on account, $$1,100$

c$).$ Billed customer for services of $$6,000$ to be paid by the customers next month.

d$).$ Payment of $$1,500$ to creditors owed in the beginning balance a$)$ above.

e$).$ Owner withdrew of $$3,000$ for personal use $($hint: take it out of the capital account$)$

f$).$ Received $$3,000$ cash due from the customer billed in transaction c $)$ above.

g$).$ Received bill and paid $$2\mathrm{.}000$ for month's rent

h$)$ Paid $$1,650$ wages to part$-$time help $($wage $$

g$).$ Received and paid for the current month's utility bill of $$350$

Balance

Required: $1)$ Analyze the affect of the above transactions on the accounting equation for Lucky Medical. Show each tranaction on the above schedule, totalling the ending balances for each account $($column$)$ to make sure that the equation is in balance.

After you have finished analysing the affect of each transaction, create an income statement, statement of owner's equity and a balance sheet using the results of your analysis. You may use the attached forms. Make sure to use proper headings.

All of the above transactions took place in December.