Question: Please I need help with this exercise, I'm completely stuck! Based on this table from week 1 : -During the second week of business, the

Please I need help with this exercise, I'm completely stuck!

Based on this table from week 1:

Please I need help with this exercise, I'm completely stuck! Based on

-During the second week of business, the following transactions, all through the business bank account as appropriate, took place:

i. On 8 October M paid by cheque a quarter of the money owing on her payables account.

ii. On 11 October M paid by cheque 600 for two weeks rent for her business premises.

iii. On 11 October M paid by cheque 250 for two weeks insurance.

iv. By the end of the day on the 14 October (i.e. after two weeks of trade), M had made sales for 4,000. Fifty per cent of the sales had been in cash and the rest on credit. M had sold all her inventory after these two weeks of trade.

Using the new template below, demonstrate how the transactions in the second week will affect the expanded accounting equation (Assets = Capital + (Income Cost of Sales Expenses) + Liabilities. Your answer should include a summary total for each of the Assets, Capital, and Liabilities at the beginning of the second week, i.e. from your answer to part (a), as well as at the end of the same week.

And this is the template:

this table from week 1: -During the second week of business, the

Thank you so much! :D

Transactions Effect on A=(C+(IC of SE))+L Week 2 Assets (Capital + (Income - Cost of Sales - Liabilities = Expenses) ) Balance from Week 1 1 2 3 4 Summary (overall effect) Transactions Effect on A=(C+(IC of SE))+L Week 2 Assets (Capital + (Income - Cost of Sales - Liabilities = Expenses) ) Balance from Week 1 1 2 3 4 Summary (overall effect)

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