es Lita Lopez started Biz Consulting a new business and completed the following transactions during...
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es Lita Lopez started Biz Consulting a new business and completed the following transactions during its first year of operations a Lita Lopez invested 66 000 cash and equipment valued at 38 000 in the company in exchange for its common stock b The company purchased a building for 42 000 cash c The company purchased equipment for 5 400 cash d The company purchased 3 300 of supplies and 1 600 of equipment on credit e The company paid 910 cash for advertising expenses f The company completed a financial plan for a client and billed that client 4 100 for the service g The company designed a financial plan for another client and immediately collected a 8 100 cash fee h The company paid 1 200 cash in dividends to the owner sole shareholder i The company received 3 100 cash as partial payment from the client described in transaction f J The company made a partial payment of 800 cash on the equipment purchased in transaction d k The company paid 1 700 cash for the secretary s wages for this period Required 1 Enter the amount of each transaction on individual items of the accounting equation 2 Determine the company s net income Complete queetic by entering your answers in the tabs below
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