Vision HR Consulting began operations on January 1, 2023. Complete the following schedule with journal entries detailing the transactions during 2023 for Vision HR Consulting under two forms of organization: as a single proprietorship (owned by Ian Smith), and as a corporation

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Transaction Jan. 1, 2023: The owner(s) invested $10,000 into the new business During 2023: Revenues of $50,000 were earned; all cash During 2023: Expenses of $30,000 were incurred; all cash Dec. 15, 2023: $15,000 cash was distributed to the owner(s) Dec. 31, 2023, Year-End: All temporary accounts were closed - Close revenue account - Close expense account - Close income summary account to appropriate equity account(s) - Close withdrawal/cash dividends declared account FORM OF BUSINESS ORGANIZATION Single Proprietorship Corporation Equity section on the balance sheet at December 31, 2023, after the Vision HR Consulting Partial Balance Sheet Vision HR Consulting Partial Balance Sheet first year of operations. December 31, 2023 December 31, 2023