1:57 Week 1 Lab Work.docx k. On August 31, Cardinal paid an installment on the account payable created in (d). 1. On August 31, the August hydro bill for $450 was received. It will be paid on September 14. m. On August 31, Cardinal withdrew S500 cash for her personal use. Required 1. Arrange the following asset, liability, and equity titles in a table similar to the one in Exhibit 1.15: Cash; Accounts Receivable; Furniture Store Equipment; Accounts Payable; and Joanne Cardinal, Capital. Show the effects of each transaction on the equation. Explain each of the changes in equity. 2. Prepare an income statement for August 3. Prepare a statement of changes in equity for August 4. Prepare a balance sheet as of August 31. Analysis Component: a. Identify how much of the assets held by The Cutlery are owned by the owner, Joanne Cardinal. b. How much of the total assets are financed by equity? By debt? Explain what it means to "finance assets by equity: and to "finance assets by debt." Planning the Solution Set up a table with the appropriate columns, including a final column for describing the transactions that affect equity. Identify and analyze each transaction and show its effects as increases or decreases in the appropriate columns. Be sure that the accounting equation remains in balance after each transaction To prepare the income statement, find the revenues and expenses in the Explanation of Equity Transaction column. List those items on the statement, calculate the difference, and label the result as profit or loss. Use the information in the Explanation of Equity Transaction column to prepare the statement of changes in copy Look Up Translate Share.. use the infor tion in the row of the table to prepare the balance sheet. Prepare an answer to each part of the analysis component question. 7:18 Discussion: "Name 3 wa... OOO INFO DISCUSSION Discussion: "Name 3 ways that Mass Media has affected your everyday life..." Due:Wednesday, May 18, 2022, 11:59 PM Instructions: 1. Identify three ways that mass media has affected your everyday life. 2. Include a personal example for each. 3. Conclusion, explain how mass media will affect your future job career moving forward. 4. Post your discussion as a comment below. 1:57 Week 1 Lab Work.docx k. On August 31, Cardinal paid an installment on the account payable created in (d). 1. On August 31, the August hydro bill for $450 was received. It will be paid on September 14. m. On August 31, Cardinal withdrew S500 cash for her personal use. Required 1. Arrange the following asset, liability, and equity titles in a table similar to the one in Exhibit 1.15: Cash; Accounts Receivable; Furniture Store Equipment; Accounts Payable; and Joanne Cardinal, Capital. Show the effects of each transaction on the equation. Explain each of the changes in equity. 2. Prepare an income statement for August 3. Prepare a statement of changes in equity for August 4. Prepare a balance sheet as of August 31. Analysis Component: a. Identify how much of the assets held by The Cutlery are owned by the owner, Joanne Cardinal. b. How much of the total assets are financed by equity? By debt? Explain what it means to "finance assets by equity: and to "finance assets by debt." Planning the Solution Set up a table with the appropriate columns, including a final column for describing the transactions that affect equity. Identify and analyze each transaction and show its effects as increases or decreases in the appropriate columns. Be sure that the accounting equation remains in balance after each transaction To prepare the income statement, find the revenues and expenses in the Explanation of Equity Transaction column. List those items on the statement, calculate the difference, and label the result as profit or loss. Use the information in the Explanation of Equity Transaction column to prepare the statement of changes in copy Look Up Translate Share.. use the infor tion in the row of the table to prepare the balance sheet. Prepare an answer to each part of the analysis component question. 7:18 Discussion: "Name 3 wa... OOO INFO DISCUSSION Discussion: "Name 3 ways that Mass Media has affected your everyday life..." Due:Wednesday, May 18, 2022, 11:59 PM Instructions: 1. Identify three ways that mass media has affected your everyday life. 2. Include a personal example for each. 3. Conclusion, explain how mass media will affect your future job career moving forward. 4. Post your discussion as a comment below