Question: please help + + + + Janice Ames worked as an accountant at a local accounting firm for five years after graduating from college. She

 please help + + + + Janice Ames worked as an

please help

+ + + + Janice Ames worked as an accountant at a local accounting firm for five years after graduating from college. She recently opened her own accounting practice, which she operates as a corporation. The name of the new entity is Ames and Associates, Inc. Janice experienced the following events during the first month of operations. Some of the events were personal and did not affect the accounting practice. Others were business transactions and should be accounted for by the business. (Click the icon to view the events.) Read the requirements Requirement 1. Enter each transaction in the expanded accounting equation of Ames and Associates, Inc., as needed, calculating new balances after each transaction. (If a box is not used in the transaction, leave the box empty, do not enter a zero. If an event does not affect the accounts of the business, leave the entire transaction line blank. Carry down all balances, including zero balance accounts. Enter decreases with a minus sign or parentheses. Note the following abbreviations used in the accounting equation tables: AR = Accounts receivable, AP = Accounts payable, and CS = Common stock.) Apr 3: Received $100.000 cash proceeds from refinancing her house. Assets = Liabilities + Stockholders' equity Cash AR + Supplies + Furniture = AP Retained earnings More Info Revenue - Expense - Dividends 3) + Apr 3Received $100,000 cash proceeds from refinancing her house. Bal + 5585,000 of common stock in the business was sold to Janice Apr 5: $85,000 of common stock in the business was sold to Janice Ames. The cash proceeds were deposited in a new business bank account titled Ames and Associates, Inc. Ames. The cash proceeds were deposited in a new business bank account titled Ames and Associates, Inc. Assets = Liabilities + Stockholders' equity 7 Paid $600 cash for office supplies for the new accounting Cash AR + Supplies + Furniture = AP cs Retained earnings practice. 9 Purchased $4,700 of office furniture for the accounting practice Revenue - Expense - Dividends Requirements and agreed to pay the vendor within three months. 5) 10 Janice sold 1,500 shares of Nissan stock, which she had owned Bal + for several years, receiving $16,500 cash. The cash from the 1. Enter each transaction in the expanded accounting equation of sale of stock was deposited in her personal bank account Apr 7: Paid $600 cash for office supplies for the new accounting practice. Ames and Associates, Inc., as needed, calculating new 14 A representative of a large company telephoned Janice and told her of the company's intention to hire Ames and Associates, Inc., Assets balances after each transaction. = Liabilities + Stockholders' equity as its accountants. Cash + AR + Supplies - Furniture = AP 2. Determine the following items: CS Retained earnings 20 Finished accounting work for a client and sent the client a bill for a. Total assets Revenue Expense Dividends b. Total liabilities $3,800. The client is expected to pay within two weeks. 27 Paid office rent, S1,500. 7) + + c. Total stockholders' equity 29 Paid $2,800 on account from the April 9th transaction. Bal d. Net income or net loss for April 30 Paid $200 of dividends to shareholders of Ames and Associates. Inc. Apr 9: Purchased $4,700 of office furniture for the accounting practice and agreed to pay the vendor within three months. Done Assets Liabilities + Stockholders' equity Print Done Cash AR + Supplies + Furniture = AP CS Retained earnings Revenue - Expense Dividends 9) = + + + + Print + + Bal + +

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