Question: help me do this projext, I need it due by Tuesday Tot rointa to locquled: C Oassly each evert in the wcend month as thancing




Tot rointa to locquled: C Oassly each evert in the wcend month as thancing investing or operabies. 1. IfP boriowed addationat 32,000 cash frem forts flank. 2. If rented a stuctio for a bagalned price of 51,000 per month, in oeder to get this deat, on Oetober 1, IrP pala $1,000 cash in advance for the fulure three monits. IIP puld \$1,200 cash to purctave one addationat funh and two lenses on October 1 . These equement are eigected to be uied for two years, and has ho resldual value. 4. ItP completed hve 2 how photo sesalons in October, I1P charged sroofor each nou, Pansent for all five sesvions are receted for tolal 52.000 in cash. 5. ItP completed two 2. Nour photo sessbons for her uncle Sam, which has been pals in Sevtember, 6. ITP pald $100 cash for utinty expenve en October 20 . 7. ITP rnade a s100 cash dividend to Bhe ownen. A. IP continued to allocate 1700 in depredition expense for October, Regined: D) Prepare Statement of Canh Flows Using Diect Method, Image Town Plctures Statement of Cash Flows For the Month Ended Octeber 30, 2023 Operatint Activites: inflow from Customer! Duthow for Expenies Net inflow from Operation Nethatie. imvestine Activities: Outhow to Archate fusipunent Net outilow from investine Activities Financine Activeles: inflow tions limue of Common sbous innow fiem isue of Note Parable Outtiow for dintibution ce ondided Ret Change incash Plon Beginaing Cashealance Frepect 2: Accountirs for a fretlanke Project 2. Accounting for a freelancer Total Points: 60 Required; b) Prepare Financial Statement for the first month. Image Town Pictures Income Statement For the Month Ended October 31, 2023 Revenue (asset increases) Operating Expenses (asset decreases) Net Income (change in the assets) Image Town Pictures Statement of Changes in Stockholders' Equity For the Month Ended October 31, 2023 Contributed Capital: Beginning Common Stock Common Stock Issued Ending Common Stock. Retained Earnings: Beginning Retained Earnings: Net Income Dividends Ending Retained Earnings Totat Stockholders' Equity Tneyl Partis 60 Required; a) Preose isurnal f ntry for business transaction for the second month Totat honte 60 Problem: in October, ITP experienced the following events. 1. ITP borrowed additional \$2,000 cash trom Fortis Bank. 2 IIP tented a studio for a bargained price of $1,000 per month, in order to get this deat, on October 1. ITP pald 5,000 cash in advance for the future three months. 3. IIP paid \$1,200 cash to purchase one addationsl fluh and two lenses on October 1 . These equipment are expected to be used for two vears, and has no residual value. 4. ITP completed flve 2, hour photo sessions in September. ITP charged $700 tor each hour, Fayment for all fiwe sessions are recelved for totat $2,000 in cash, 5. ITP completed two 2 -hour photo sessions for uncie 5am, which has been paid in September. 6. ITP pald $100 cash for utaty expense on October 70 . 7. ITP made a $100 cash didend to the owners
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