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The following information is available for MGG: the balance sheet on December 31, 2020, and details of transactions for January 2021. Show the effect of

The following information is available for MGG: the balance sheet on December 31, 2020, and details of transactions for January 2021. Show the effect of each transaction on the balance sheet. Next, reproduce the balance sheet as of January 31, 2021, and the income statement for the month of January 2021.

Balance sheet of MGG

image text in transcribed

Transactions for the month of January 2021

image text in transcribed

On 31 December 2020 ACTIVE PASSIVE On 31 December 2020 ACTIVE PASSIVE

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