D21 McGraw-Hill Connect - Spring x 5 Question 2 - Ch 2: Homework X Question 5 - Ch 1: Quiz - Cor X * Course Hero X Course Hero X + V X > C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlewar... @ @ * Ch 1: Quiz i Saved Help Save & Exit Submit d. 5 Bal. e . + + Bal + 5 Bal. points 9 . + Bal. h. Bal. + 11 11 1 11 14 11 1 14 + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Bal. j. Bal. k. + Bal 2. Determine the company's net Income. Net income Mc Graw Hill Type here to search O E W 20 480 F A D $074x 4:18 PM 3/24/2022 26D21 McGraw-Hill Connect - Spring x 5 Question 2 - Ch 2: Homework X Question 5 - Ch 1: Quiz - Cor X * Course Hero X Course Hero X + V X > C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddleware%2... [ * Ch 1: Quiz i Saved Help Save & Exit Submit 5 Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $70,000 cash and office equipment valued at $10,000 in the company. b. The company purchased an office suite for $40,000 cash. c. The company purchased office equipment for $15,000 cash. 5 d. The company purchased $1,200 of office supplies and $1,700 of office equipment on credit. points e. The company paid a local newspaper $500 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $2,800 for the service. g. The company designed a financial plan for another client and immediately collected a $4,000 cash fee. h. Lita Lopez withdrew $3,275 cash from the company for personal use. i. The company received $1,800 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $700 cash on the equipment purchased in transaction d. k. The company paid $1,800 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. (Reductions in account balances should be indicated with a minus sign.) Assets Liabilities Equity Cash Accounts Office Office Office Suite = Accounts L. Lopez, L. Lopez, Receivable Equipment Capital Revenues E Supplies Payable Withdrawals a + + + + + + + + + + Mc Graw Hill Type here to search O E W 20 48 OF A DOX 4:16 PM 3/24/2022 26021 McGraw-Hill Connect - Spring X 5 Question 2 - Ch 2: Homework X Question 5 - Ch 1: Quiz - Cor X * Course Hero X Course Hero X + V X > C A ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmghmiddlewar... @ @ * Ch 1: Quiz Saved Help Save & Exit Submit Required: 1. Enter the amount of each transaction on Individual Items of the accounting equation. (Reductions In account balances should be 5 Indicated with a minus sign.) Assets Liabilities Equity Cash Accounts Office Office Office Suite | = Accounts L. Lopez, L. Lopez, Payable Capital Withdrawals Revenues Expenses Receivable Supplies Equipment 5 points a b. + + + + Bal C. + + Bal. + + + + d. + Bal. + e . Bal. f . Bal. 9. + Bal. 1 11 1 11 11 11 11 11 11 11 41 + + + + + + + ++ + + + ++ + + + + + + + + + + + + + + + + h. + + + + + + + + + + + + + + + + + + + + + + + + + + Bal. Bal. Bal K. Bal. Mc Graw Hill 4:17 PM Type here to search O E W 20 480 F A D $0 4x 3/24/2022 26