Question
The following events concern Anita Allen, a Manitoba law school graduate, for March 2024: 1 2. 3. 4. 5. 6. 7. 8. 9. 10. 11.
The following events concern Anita Allen, a Manitoba law school graduate, for March 2024:
1
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
On March 4, she spent $20 on a lottery ticket.
On March 7, she won $265,000 in the lottery and immediately quit her job as a junior lawyer.
On March 10, she decided to open her own law practice, and deposited $90,000 of her winnings in a business chequing account, Allen Legal Services.
On March 14, she purchased a new luxury condominium with a down payment of $150,000 from her personal funds plus a home mortgage of $230,000.
On March 15, Anita signed a rental agreement for her law office space for $2,500 a month, starting March 15. She paid the first month's rent, as it is due on the 15th of each month.
On March 19, she hired a receptionist. He will be paid $550 a week and will begin working on March 24.
On March 20, she purchased equipment for her law practice from a company that had just declared bankruptcy. The equipment was worth at least $15,000 but Anita was able touy it for only $8,400.
On March 21, she purchased $225 of supplies on account.
On March 24, she purchased an additional $6,100 of equipment for her law practice for $2,100 plus a $4,000 note payable due in six months.
On March 31, she performed $4,000 of legal services on account.
On March 31, she received $2,500 cash for legal services to be provided in April.
On March 31, she paid her receptionist $550 for the week.
On March 31, she paid $225 for the supplies purchased on account on March 21.
prepare a balance sheet and a liabilities abd owner's equity
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