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0 September 30, 2018 financial position Assets = + Liabilities Accounts Payable 8,100 Accounts + Receivable + 3,500 Stockhold

i Transactions a. The company received cash of $3,800 and issued common stock b. Performed services for a customer and receiv

The following amounts summarize the financial position of Taylor Computing, Inc., on September 30, 2018: (Click the icon to vAssets Liabilities Stockholders Equity Accounts + Receivable + 3,500 Supplies Accounts Payable 8,100 Type of Equity TransactRequirement 2. Prepare the income statement of Taylor Computing, Inc., for the month ended October 31, 2018. List expenses in

Requirement 3. Prepare the entitys statement of retained earnings the month ended October 31, 2018. Select the labels and en

Requirement 4. Prepare the balance sheet of Taylor Computing, Inc., at October 31, 2018 Select the labels and enter the amoun

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Taylor Computing Inc.
Answer 1 Assets = Liabilities + Stockholder's Equity
Event Cash + Accounts Receivable + Supplies + Equipment = Accounts Payable + Common Stock + Retained Earnings + Type of equity transactions
Opening Balance        2,250.00 +      3,500.00 + +      12,300.00 =      8,100.00 +        6,500.00 +      3,450.00 +
a.        3,800.00 + + + = +        3,800.00 + + Financing Activity
b.        6,000.00 + + + = + +      6,000.00 + Revenue. Operating Activity
c.      (4,400.00) + + + =    (4,400.00) + + +
d. + +      1,100.00 + =      1,100.00 + + +
e.        2,000.00 +    (2,000.00) + + = + + +
f. +      4,200.00 + + = + +      4,200.00 + Revenue. Operating Activity
g.      (2,150.00) + + + = + +    (1,500.00) + Expense. Operating Activity
g. + + + = + +       (650.00) + Expense. Operating Activity
h.      (2,500.00) + + + = + +    (2,500.00) + Dividend Expense. Financing Activity
Total $   5,000.00 + $ 5,700.00 + $ 1,100.00 + $ 12,300.00 = $ 4,800.00 $ 10,300.00 $ 9,000.00 $                           -  
Answer 2
Income Statement Amount $
Revenues      10,200.00
Less: Expenses
Rent Expense        1,500.00
Advertising Expense           650.00
Total Expenses        2,150.00
Net Income        8,050.00
Answer 3
Statement of Owner's Equity Amount $
Opening balance        3,450.00
Add: Net Income        8,050.00
Less: Dividends        2,500.00
Closing balance        9,000.00
Answer 4
Balance Sheet
Assets Amount $ Liabilities & Stockholder's Equity
Current Assets Current Liabilities Amount $
Cash        5,000.00 Accounts Payable      4,800.00
Accounts Receivable        5,700.00 Current Liabilities     4,800.00
Office Supplies        1,100.00 Stockholder's Equity
Current Assets     11,800.00 Common Stock 10,300.00
Fixed Assets Retained Earnings      9,000.00
Equipment      12,300.00 Stockholder's Equity 19,300.00
Fixed Assets     12,300.00
Total Assets     24,100.00 Total Liabilities & Stockholder's Equity 24,100.00
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