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there are some error could you salve them and answer * in the end of schedule you will find the income* Lita Lopez started Biz
there are some error could you salve them and answer * in the end of schedule you will find the income*
Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $66,000 cash and office equipment valued at $31,000 in the company b. The company purchased an office suite for $40,000 cash. c. The company purchased office equipment for $5,600 cash. d. The company purchased $3,300 of office supplies and $1,900 of office equipment on credit. e. The company paid a local newspaper $870 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $4,900 for the service. g. The company designed a financial plan for another client and immediately collected a $8,700 cash fee h. Lita Lopez withdrew $1,800 cash from the company for personal use. i. The company received $3,900 cash as partial payment from the client described in transaction f j. The company made a partial payment of $950 cash on the equipment purchased in transaction d k. The company paid $2,300 cash for the office secretary's wages for this period Required 2. Enter the amount of each transaction on individual items of the accounting equation. (Reductions in account balances shoyld be indicated with a minus sign.) Requl ed: 2. er the amount of each transaction on individual items of the accounting equation. (Reductions in account balances s indicated with a minus sign.) 3 Answer is not complete. L. Lopez Office Office Sulte 31,000 66,000 66,000 40,000 40,000 b. (40,000) 66,000 26,000 (5,600)+ 20,400 31,000 + 5,600 l+ 36,600 + 40,000 I= 66,000 5,200 5,200 3,300+ 38,500 40,000 66,000 . 3,300 3,300+ 3,300 3,300 20.400 870 870 38,500 40,000 5,200 66,000 9,400 X- 9,400 8,700 870 38,500 + 40,000 5,200 66,000 20,400 9 8,700 29,100 18,100 870 38,500 + 40,000 5,200 + 66,000 1,800 40,000 5,200 66,000 1,800 + 18,100 870 3,300 38,500 Bal 29, 100 3,9003 3,900 870 |+ 40,000 5,200 + 66,000 1,800 18,100 3,300 38,500 950 3 39,450 870 2,300 0,000 5,200 + 66,000 1,800+ 18,100 32,050 3,900 3,300 + 5,200 66,000 ,800+ 18,100 40,000 29,750 3,900 + 3,300 3. Determine the company's net income
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