Only using the 15 points below to create the following statements (General ledger and Income Statement, Balance Statement, Owners Equity Statement, Cash Flow statement.

A B You decide to start up your own consulting firm this summer. Combining your newfound understanding of accounting, and your gambling acumen, you found You Betcha' LLC, a service firm providing sports betting tips with promised and proven results. The following transactions occurred during the year (2020). Record them, as well as any necessary adjusting entries and produce a set of four financials. Presentation is a key component in properly reporting the financial position of the company! 1 On June 30th, you invest $10,000 dollars as seed money to get things going. In exchange you are issued 100 shares of $0.20 par value common stock. 2 You decide buying your own place is a little much, so instead, agree to terms to rent a nice desk at the Idea Foundry in Franklinton. Terms are $350 a month, payable in advance and due by the end of the preceding month. You make all payments on schedule and have been using the space since day one in July. 3 You realize there is a market for some swanky branded merch too. Therefore, you work with a stationery and fine pen distributor to design and supply leatherbound, 90mg milled paper ledger books. These ledgers, complete with Sailor 1911S pen, will make recording all those winnings that much cooler. The supplier bills you $95 each for your first order delivered of 35 ledgers on account. 4 You make your business official by filing Articles of Organization for a Domestic Limited Liability Company (Form 533A) with the Ohio Secretary of State. It costs $39 to reserve the company name and $99 to file the form. 5 It's important to outfit your offices with all the supplies you need to function. You and a friend head to Staples one day and leave that place with $900 worth of supplies. (You don't plan on keeping detailed track of these supplies, nor performing a periodic inventory count at year end.) 6 You get your first client! You successfully provide consultation and they pay you $1,000 cash. 7 You realize you need someone who knows their way around statistical number crunching. You hire a bright young OSU Statistics major to perform directed analysis at $20 per hour. They end up working with you 20 hours a week for the last 16 weeks of the year. You paid them current, however things were hectic at year end and you still owe them for the last three weeks. 8 Throughout the remainder of the year, you consult and bill $14,000 to a number of clients. (Word is spreading fast about your services!) \begin{tabular}{l|l} 9 & Thebettersouttheredontjustloveyourtipsandinsights,theyarealsoparlayingyourconsultationswithsomeofthosesweetledgerbooksyousell.Throughouttheyear,you17ofthematapriceof$200each!Youfirstrecordthecashsalesyoumadeforthem. \\ \hline 10 & Next,yourecallsomethingabouttheexpenserecognitionprinciplefromyouraccountingclass....somethingaboutwhenyousoldthoseledgers... \\ \hline 11 & Yourememberyouhavetomakeanestimatedtaxpaymentbymid-September.SoyousendUncleSam$1,000. \\ \hline 12 & You pay your supplier in full for the ledgers and begin discussing terms for your next order. \\ \hline 13 & AEPhasbeenlookingforyou!TheyvebeensendingtheelectricbillstothewrongPOBox.Youreceiveacumulativeelectricbillon12/15dueimmediatelyfor$800. \\ \hline 14 & Youcheckyourownledgerattheendoftheyear,anditlookslikeyouarestillowed$3,500fromyourconsultingclientsasofyearend. \\ \hline 15 & Time to do your taxes (21\%)... You'll pay any balance due in the next year before April 15 th. \\ \hline \end{tabular} A B You decide to start up your own consulting firm this summer. Combining your newfound understanding of accounting, and your gambling acumen, you found You Betcha' LLC, a service firm providing sports betting tips with promised and proven results. The following transactions occurred during the year (2020). Record them, as well as any necessary adjusting entries and produce a set of four financials. Presentation is a key component in properly reporting the financial position of the company! 1 On June 30th, you invest $10,000 dollars as seed money to get things going. In exchange you are issued 100 shares of $0.20 par value common stock. 2 You decide buying your own place is a little much, so instead, agree to terms to rent a nice desk at the Idea Foundry in Franklinton. Terms are $350 a month, payable in advance and due by the end of the preceding month. You make all payments on schedule and have been using the space since day one in July. 3 You realize there is a market for some swanky branded merch too. Therefore, you work with a stationery and fine pen distributor to design and supply leatherbound, 90mg milled paper ledger books. These ledgers, complete with Sailor 1911S pen, will make recording all those winnings that much cooler. The supplier bills you $95 each for your first order delivered of 35 ledgers on account. 4 You make your business official by filing Articles of Organization for a Domestic Limited Liability Company (Form 533A) with the Ohio Secretary of State. It costs $39 to reserve the company name and $99 to file the form. 5 It's important to outfit your offices with all the supplies you need to function. You and a friend head to Staples one day and leave that place with $900 worth of supplies. (You don't plan on keeping detailed track of these supplies, nor performing a periodic inventory count at year end.) 6 You get your first client! You successfully provide consultation and they pay you $1,000 cash. 7 You realize you need someone who knows their way around statistical number crunching. You hire a bright young OSU Statistics major to perform directed analysis at $20 per hour. They end up working with you 20 hours a week for the last 16 weeks of the year. You paid them current, however things were hectic at year end and you still owe them for the last three weeks. 8 Throughout the remainder of the year, you consult and bill $14,000 to a number of clients. (Word is spreading fast about your services!) \begin{tabular}{l|l} 9 & Thebettersouttheredontjustloveyourtipsandinsights,theyarealsoparlayingyourconsultationswithsomeofthosesweetledgerbooksyousell.Throughouttheyear,you17ofthematapriceof$200each!Youfirstrecordthecashsalesyoumadeforthem. \\ \hline 10 & Next,yourecallsomethingabouttheexpenserecognitionprinciplefromyouraccountingclass....somethingaboutwhenyousoldthoseledgers... \\ \hline 11 & Yourememberyouhavetomakeanestimatedtaxpaymentbymid-September.SoyousendUncleSam$1,000. \\ \hline 12 & You pay your supplier in full for the ledgers and begin discussing terms for your next order. \\ \hline 13 & AEPhasbeenlookingforyou!TheyvebeensendingtheelectricbillstothewrongPOBox.Youreceiveacumulativeelectricbillon12/15dueimmediatelyfor$800. \\ \hline 14 & Youcheckyourownledgerattheendoftheyear,anditlookslikeyouarestillowed$3,500fromyourconsultingclientsasofyearend. \\ \hline 15 & Time to do your taxes (21\%)... You'll pay any balance due in the next year before April 15 th. \\ \hline \end{tabular}