Question

n on as one transaction Alter all transactions have been tres cala Enter the transactions in the accounting e balance of each account, stal sets and t beginning with transaction Formacions that affect stockholders equity select the type of guilty transaction. For transaction .enter the amounts to the accounting able and stockholdereuty (Use pare or a mino n decreasing countsa box not used in the table leave the box empty do not enter a zero.) Assets Accounts + Rocavab Acoounts Payabia Common Stock Stockholders' Equity Retained Type of Equity - Farrings Transaction 0 Transactions + Supplies - Fu n Cash 2,450 Bal a. The company recalved cash of $4.000 and issued common stock b. Performed services for a customer and received cash of 56.400 C Paid 34 200 on counts payable. d. Purchased supales an account, $1,400. a. Collected cash from a customer an account, $1,703 Consulted on the design of a computer system and bited the customer for services rendered $4,600. g. Recorded the folloring business expenses for the month paid office rent 51.700; (2) paid advertising 5900 Record the cash amounts on and identify and record any other amounts separately h. Declared and paid a cash dividend of $2.500 Print Done Total Requirement 2. Prepare the income statement of Mason Computing, Inc., for the month ended October 31, 2018. Last expenses in decreasing order by amount Select the labels and enter the amounts to complete the income statement. Remember to list expenses in decreasing order by amount. (Use parentheses or a minus sign for a netes.) Review the accounting equation completed in Requirement1 Mason Computing. Ing. Income Statement Month Ended October 31, 2018 Expenses Net income (los) Choose from any list or enter any number in the input fields and then continue to the next question

Answer 1

answer Accounting equation Assets Liabilities Stock holders equity 2450 6400 -4200 Cash + Accounts Receivables + Supplies - Equipment = Accounts Payable + Common Stock + Retained Earnings Type of equity transaction Balance (opening) 3450 12500 8100 5600 4700 4000 4000 6400 -4200 1400 1400 1700 -1700 4600 4600 | -2600 -2600 -2500 Balance (closing) 5250 6350 1400 12500 5300 9600 10600 Total 25500 25500 -2500

Income Statement Mason Computing Inc Income Statement Month Ended October 31, 2018 Revenues: Service revenue (6400+4600) Expenses: Office rent 1700 Advertising 900 Total expenses Net Income (loss) 11000 2600 8400