1.Larry invested $80,000 in the business January 1 exchanging shares of common stock in the company.

2. Beginning of Jan 1 Larry purchase a truck for $30,000 as cash use for five year

3. Begin Jan 1 , larry purchase equipment for $20,000 in cash

4. Larry company buy parts and supply inventory of total $71,000 on account

5. Total sale of year is $300,000 , and $100,000 sale on account , $50,000 were cash , $150,000 were credit card , credit card charge 2% for each sale

6. parts and supplies inventory used was $62,500

7. Rent $1000 per year and paid as cash

8. Insurance year = $1200 as cash

9. All employee earned 185,000 in salaries and wage , with 180,000 paycheck and $5000 for paycheck

9. A customer went bankruptcy and dont wanna paid $3,000 total of $22,000

10. Remaining operating expense $7,000 all paid with cash

11 OCT 1, larry company borrowed $25,000 from bank , the loan is 12% interest rate, payable annually on oct 1

12, Larry company still owed supplier of $8,200 at the end of year

13, in december , pany invested $55,000 in cash in the stock of ABC inc

14. Dec 31 , company sold equipment for $2,000 cash, net book value of equipment of $1500

15, company tax rate 15%, wait until April 15 of his second year to pay the income tax bill.

Question

Prepare all journal entries of first operations

2. Post this information on T-ACCOUNTS

3. Prepare income statement that summarizes the results of operations for first year

4. Prepare a statement of cash flow for this year

Can someone please help me , thank you so mich.