The following events occurred during the month of September 2024 for the business of Shruti’s Webdesign Service.

Required

(a) Determine the effects of business transactions on a statement of financial position by preparing a statement of financial position for Shruti’s Webdesign Service after each transaction has occurred.

(b) Discuss the expected tasks of Shruti as the manager of Shruti’s Webdesign Service.

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Shruti deposited $40 000 cash into the business bank account. A computer, telephone system and printer were purchased at a cost of $10 000 cash. Sept. 1 2 4 A part-time receptionist was hired to commence in October. 6 Web design services were provided to clients for $12 000. The clients were invoiced but have not as yet paid. 7 Advertising for the week amounts to $1000 cash. 8 A customer paid $3000 in advance for web design services scheduled for October.