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Rolling Hill Interiors began the year with Hill, capital of $20 000. On 12 July, Dana Hill, the owner, invested $14 000 cash. The income statement for the year ended 31 December 2015 reported a profit of $63 000. During this financial year, Hill withdrew cash of $6 000 each month. Requirement Prepare Rolling Hill Interiors' statement of changes in equity for the year ended 31 December 2015. Begin by completing the statement heading Rolling Hill Interiors Statement of changes in equity for the year ended 31 December 2015Walja Creek Solicitors performed legal services for a client who couldn't pay immediately. The business expected to collect the $16 000 the following month. Later, the business received $9 600 cash from the client. Requirements 1. Record the two transactions for Walja Creek Solicitors. Include an explanation for each transaction. 2. Open these T-accounts: Cash; Accounts receivable; Service revenue. Post to all three accounts. Calculate each T-account's balance, and denote as Bal. 3. Answer these questions based on your analysis: a. How much did the business earn? Which account shows this amount? b. How much in total assets did the business acquire as a result of the two transactions? Identify each asset and show its balance. Requirement 1. Record the two transactions for Walja Creek Solicitors. Include an explanation for each transaction. (Record debits first, then credits. Explanations will appear on the last line of the journal entry.) Begin with recording the service performed on credit. Journal Entry Accounts and explanations Debit Credit Now record the cash received from the client. Journal Entry Accounts and explanations Debit CreditRequirement 2. Open these Taccounts: Cash; Accounts receivable; Service revenue. Post to all three accounts. Calculate each Taccount's balance, and denote as Bat. The Taccounts have been opened for you. Post both entries and calculate the account balances. Cash Accounts receivable Service revenue | _ ; Ball Bal Bal I: Requirement 3. Answer these questions based on your analysis: a. How much did the business earn? Which account shows this amount? Walja earned $ as Y _ b. How much in total assets did the business acquire as a result of the two transadions? Identify each asset. and show its balance. Total assets