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within 15 min please Stake Technology Inc. began operations on April 1, 2014. The transactions for the first month follow. a. Stake Technology Inc. issued
within 15 min please
Stake Technology Inc. began operations on April 1, 2014. The transactions for the first month follow. a. Stake Technology Inc. issued shares to shareholders for $30,000. b. Stake Technology Inc. collected $1,900 for commissions earned today. c. Stake Technology Inc. will pay this month's utilities bill of $400 received today, within 30 days. d. Performed consulting services today and collected $100. e. Stake Technology Inc. bought $600 of supplies paying $100 cash and $500 on account. f. A client rented equipment for $1,600 cash. g. Stake Technology Inc. collected $1,900 for commissions earned today. h. Performed consulting services today and collected $300. i. Stake Technology Inc. collected $6,000 for commissions earned today. j. Stake Technology Inc. paid dividends of $1,300 to the shareholders. Fill out the following table, according to the transactions above. Select the headings for each column by clicking on the appropriate cell. Also indicate next to each change in equity (in the explanation column) whether it was caused by issuance of share capital (investment), a revenue, an expense or payment of dividends. Identify revenues and expenses by name. Calculate the tota balance for each column (no + or - sign is required for totals). In addition to this, prepare an income statement, a statement of changes in equity and a balance sheet for the month ended April 30. an expense or payment of dividends. Identify revenues and expenses by name. Calculate the tota balance for each column (no + or - sign is required for totals). In addition to this, prepare an income statement, a statement of changes in equity and a balance sheet for the month ended April 30. a) Complete the following accounting equation table: Assets = Liabilities Equity Explanation +Share Capital+Retained Earnings (a) (b) (c) (d) (e) (f) (g) (h) (0) 0) Bal. b) Complete the following income statement: Stake Technology Inc. Income Statement For the Month Ended April 30, 2014 c) Complete the following statement of changes in equity: Stake Technology Inc. Statement of Changes in Equity For Month Ended April 30, 2014 Share Retained Total Capital Earnings Equity d) Complete the following balance sheet: (select one) Balance Sheet (select one)Step by Step Solution
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