An analysis of the transactions made by Acme Consulting for the month of July is shown b...

An analysis of the transactions made by Acme Consulting for the month of July is shown below.

Required:

a. Explain each transaction.

b. List the changes in the company’s balance sheet during the month of July.

c. Prepare an income statement for the month (ignore taxes).

d. Explain the changes in the Cash account.

e. Explainwhy the change in the Cash account and the month’s income are not the same.