Project $2$: Accounting for a freelancer

Total Points: $60$

Problem: In February, FCT experienced the following transactions$/$events$.$

FCT rented a studio for a bargained price of $$1,000$ per month. In order to get this deal, on February $1,$ FCT paid $$3,000$ cash in advance for the future three months.

FCT borrowed additional $$6,000$ cash from Fortis Bank.

FCT paid $$8000$ cash to purchase four additional newly$-$released NVIDIA GPU on February $1.$ These equipment are expected to be used for two years, and has no residual value.

FCT completed two projects for uncle Sam, which has been paid already in January.

FCT completed additional six standard projects in February. FCT charged $$400$ for each. Payment for all five sessions are received for total $$2,400$ in cash.

$6.$ FCT paid $$900$ cash for utility expense for February.

FCT paid a $$600$ cash dividend to the owners.

$8$a$.$ FCT continued to allocate $$300$ as depreciation expense for February.

$\backslash$table$[[$Transactions$/,$Balance Sheet $($Accounting Equation$),\backslash$table$[[$Income Statement$],[$Rev$.-$ Exp. $=$ Net Inc.$]],\backslash$table$[[$Statement of$],[$Cash Flows$]]],[\backslash$table$[[$Event$],[$No$.]],\backslash$table$[[$Total Assets$],[$Cash $+$ Prepaids $+$ Equipm$]],\backslash$table$[[=$ Total Liabilities $+$ Owners' Equity$],[t=\frac{N}{P}+$ Un Rev. $+$ Com.Stk$.+$ Ret. Ear.$]]],[$Bal$.,5,100+0+6,900,=3,000+700+8,000+300,0-0,5,100],[1.,,=,,],[2.,,=,,],[3.,,=,,],[4.,,=,,],[5.,,=,,],[6.,,=,,],[7.,,=,,],[8($Adj$),,=,,],[$Adj b$.,,=,,],[$Adj c$.,,=,,],[$Totals$,,=,,]]$

$6$