undefined
On Ol Alec Shelton, CPA ally, one transaction at a time beginning with the transaction on the 5th For each transaction that follows the transaction on the 5th calculate the ba accounting equity (Complet on lines. Do More Info with a minus al. Exp = Expen up = Supplie X Ints, entering and TS Office Sup Shelton deposited $70,000 in a new business bank account titled Alec Shelton, CPA. The Apr. 5 business gave capital to Shelton Apr. 6 Paid $200 cash for letterhead stationery for new office. Apr. 7 Purchased office furniture for the office on account, 99,200 Apr. 10 Consulted with tax client and received $1,000 for services rendered Apr. 11 Paid utilities, $390 Apr. 12 Finished tax hearings on behalf of a client and submitted a bill for accounting services, $11,000 Apr. 18 Paid office rent $1,600 Apr. 25 Received amount due from client that was billed on April 12 Apr. 27 Paid full amount of accounts payable created on April 7 Apr. 30 Shelton withdrew cash of $4,000 elds and the Chei Print Done Dorson 4 of 4 (3 complete) HW Score: 75%, 3 of 4 pri core: 0 of 1 pt P1-45A (similar to) Question Help Alec Shelton recently opened is own accounting on April 1 which he operates as a sole proprietorship The name of the new entity is Alec Shelton CPA Shoton experienced the following events during the organizing phase of the new business and its first month of operation 2018 Click the icon to the transactions) Read the requirements Requirement 1. Arvalyze the acts of the events on the accounting equation of the sole proprietorship of Alec Shelton Anwlyze the events chronologically transactional aime beginning with the transaction on the sth for each transaction that flows the transaction on the 5th calculate the balance mach account attor analyzing ils etted on the accounting equation Alter calculating the endng balue of each account on the oth calculatiotalets and total laboties and equity (Complete only the necessary answer boxes for your transaction Ines Donor enter any zeros for your transaction lines Carly down at balances to then, including or balance acris, entering a "U" for any zero balances Frint a decrease in an accur with a munus on theses Abbrevanons used XP = Accounts Payable AR = Accounts Receivable, Cap Shelton Capital Expense Fur Furniture, Linbabilities Rev = Revenue Sup Supplies utiles with Shelton Wildwas LIAB EQUITY - X Requirements ASSETS Cash - AR - Otice 5Up + Fun AF cap With Tant UI - SUV Re Exp = 1. Analyze the effects of the events on the accounting equation of Alec Shelton CRA 2. Prepare the flowing financial statements a. Income statement b. Statement of owner's gaty c. Balance sheet Print Done Errer any number in the edit Beds and then click Check Answer Clear AP Check Answer 13 semaining COM Al S G PNG
