Analyze the effects of the following events on the accounting equation of the proprietorship of Angela Peters,

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Question:

Analyze the effects of the following events on the accounting equation of the proprietorship of Angela Peters, attorney

Complete the formal balance sheet and income statement for Angela Peters Proprietorship

Journalize the events on Angela Peters Proprietorship

Events:

Sold personal investment in eBay stock, which she had owned for several years, receiving $3,000 cash.

Deposited the $31,000 cash from sales of the eBay stock in her personal bank account.

Received $19,000 cash from former law partners.

Deposited $89,000 cash in a new business bank account titled Angela Peters, Attorney. The business gave capital to Peters.

7 Paid $400 cash for ink cartridges for the printer.

9 Purchased computer for the law office, agreeing to pay the account, $9,300, within three months.

23 Finished court hearings on behalf of a client and submitted a bill for legal services, $13,500, on account.

30 Paid utilities, $1,200.

31 Peters withdrew cash of $2,000.