Week 1 - Homework Saves 07 10 points o. Lita Lopez invested $68,000 cash and office equipment valued at $31,000 in the company in exchange for its common stock. b. The company purchased an office suite for $43,000 cash. c. The company purchased office equipment for $5,800 cash. d. The company purchased $3.100 of office supplies and $1.800 of office equipment on credit. e. The company paid a local newspaper $840 cash for printing an announcement of the office's opening. 4. 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. The company paid $1,800 cash in dividends to the owner (sole shareholder). 1. The company received $3.900 cash as partial payment from the client described in transaction f. J. The company made a partial payment of $900 cash on the equipment purchased in transaction d k. The company paid $1,600 cash for the office secretary's wages for this period. eBook Print Required: 2. Enter the amount of each transaction on individual items of the accounting equation. (Reductions in account balances should be Indicated with a minus slgn.) References Assets Equity Liabilities Accounts Payable Common Stock + - Dividends + Revenues - Expenses + Cash a.rs 68.000 + b. 43.000) + Bal. 25.000 + + - - + - 0 + 01 - 0 - c. 0 + + 7 0 + + Bal 25.000 + 0 + 0 - 01 - - 0 0 - - 0 - 0 d. + + + = + Bal. Accounts Office Office Receivable + Supplies + Equipment + Office Suite = + $ 31,000+ + = + 43.000 + = 0 + 31,000 + 43.000 + 0 = + + + = 0 + 31,000+ 43,000 + 0 = + + 0 + 31,000 + 43,000 + 0 = + = + 01 + 31,000+ 43.000 + 0 = + + + = 0 + 31,000+ 43,000 + + 0 = + = 0 + 31,000+ 43,000 + ol = + + = 0 + 31.000 + 43.000 + Ol = 0 + 0 - 0 + 0 e. + + + 01 - 0 + 0 25.000 + + 25.000 + + 25.000 + + Bal. f. 01 + 0 + 0 0 - - - + Bal. ol + 0- 0 + 01 - 0 + + + - + - 9 . Bal. . h. 25.000 + 01 + 0 - 0 0 + + + + = - 0 - - 0 - Bal. 25.000 + 0 + 0 0 - 0 i. + + + + + = + | - 0- 0 0 + + 0 + - 0 - Bal 25.000 + 0 + 31,000+ 43.000 + 0 = 0 + + + + = - + j. Bal. + 25.000 + + - 0 - 43.000 + 0 = 0 + 0 - 0 + 0 0 + + k. 31.000 + + 31,000 + S - + + 0 + - - Bals 25.000 + s 0 + $ 43,000 + S 01 = S 01 + $ 0 - $ S 0 S S 0 3. Determine the company's net income. Net income Mc CER Prau ni 5 Neyt