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Chrome File Edit View History Bookmarks People Window Help 79% Sun 9:48 PM Q . E Chapter 01 -- Problem II (P1-8/ x + C newconnect.mheducation.com/flow/connect.html Chapter 01 - Problem II (P1-8A) ( Saved Help Save & Exit Submit Check my work Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. 100 a. Lita Lopez invested $63,000 cash and office equipment valued at $37,000 in the company in exchange for its common stock. points b. The company purchased an office suite for $48,000 cash. c. The company purchased office equipment for $5,200 cash. Skipped d. The company purchased $3,800 of office supplies and $1,500 of office equipment on credit. e. The company paid a local newspaper $830 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $4,700 for the service. eBook g. The company designed a financial plan for another client and immediately collected a $8,200 cash fee. h. The company paid $1,300 cash in dividends to the owner (sole shareholder). Print i. The company received $3,700 cash as partial payment from the client described in transaction f. References j. The company made a partial payment of $750 cash on the equipment purchased in transaction d. k. The company paid $2,000 cash for the office secretary's wages for this period. Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Enter decreases to account balance with a minus sign.) 2. Determine the company's net income. Assets Liabilities Equity Cash + Accounts Office Office Accounts Common Receivable Supplies + Equipment + OfficeSuite = Payable + Stock Dividends + Reven ar + Prey 1 of 1 Next