1. The following are the December transactions for Zion Company: December 2- Investment of $75,000 in...

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1. The following are the December transactions for Zion Company: December 2- Investment of $75,000 in cash into the business by stockholders. December 4- Paid $10,000 cash on a building that cost $90,000, the rest was borrowed (5 year pay back) December 10- Purchased supplies on credit for $4,200 December 14- Paid cash wages to employees who worked in December for the business for $950. December 21- Completed a job for $2,900 on credit. December 30 Received a bill for $300 for utilities used during December that will be due in January. December 31 Paid cash dividends of $100 to stockholders. a. Show the accounts affected by each transaction and how they are affected. For example - Purchasing supplies: cash (current asset) decreased $500; supplies (current asset) increased $500) OR you may use the accounting equation Excel template b. Prepare an income statement, statement of stockholders' equity & balance sheet for December. (Financial statements are created for all transactions for the entire fiscal year.) 1. The following are the December transactions for Zion Company: December 2- Investment of $75,000 in cash into the business by stockholders. December 4- Paid $10,000 cash on a building that cost $90,000, the rest was borrowed (5 year pay back) December 10- Purchased supplies on credit for $4,200 December 14- Paid cash wages to employees who worked in December for the business for $950. December 21- Completed a job for $2,900 on credit. December 30 Received a bill for $300 for utilities used during December that will be due in January. December 31 Paid cash dividends of $100 to stockholders. a. Show the accounts affected by each transaction and how they are affected. For example - Purchasing supplies: cash (current asset) decreased $500; supplies (current asset) increased $500) OR you may use the accounting equation Excel template b. Prepare an income statement, statement of stockholders' equity & balance sheet for December. (Financial statements are created for all transactions for the entire fiscal year.)