PROBLEM: - Making an Accounting Equation Table and Financial StatementsAt the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactionsduring April.1. Haron Kadir invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company.The company purchased land worth $22,000 for an office by paying $5,000 cash and signing a long-term note payable for $17,000.3. The company purchased a portable building with $34,500 cash and moved it onto the land acquired in b.2.4.The company paid $5,000 cash for the premium on a two-year insurance policy.5. The company provided services to a client and immediately collected $4,600 cash.The company purchased $4,500 of additional computer equipment by paying $800 cash and signing a long-term note payable for $3,700.7. The company completed $4,250 of services for a client. This amount is to be received within 30 days.8. The company purchased $950 of additional office equipment on credit.6.9. The company completed client services for $10,200 on credit.10. The company received a bill for rent of a computer testing device that was used on a recently completed job. The $320 rent cost must be paid within30 days.11. The company collected $5,100 cash in partial payment from the client described in transaction į.12. The company paid $1,800 cash for wages to an assistant.13. The company paid $950 cash to settle the payable created in transaction h.14. The company paid $608 cash for minor maintenance of the company's computer equipment.15. H. Kadir withdrew $6,230 cash from the company for personal use.16. The company paid $1,800 cash for wages to an assistant.17. The company paid $750 cash for advertisements on the web during April.Required3. Prepare statement of owner's equity

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Description: PROBLEM: - Making an Accounting Equation Table and Financial StatementsAt the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactionsduring April.1. Haron Kadir invest

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Answered: Prepare statement of owner's equity

Business

Accounting

Prepare statement of owner's equity

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 2PA: B. Kelso established Computer Wizards during November of this year. The accountant prepared the...

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At the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactions during April. April Haron Kadir invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company. The company purchased land worth $22,000 for an office by paying $5,000 cash and signing a long-term note payable for $17,000. The company purchased a portable building with $34,500 cash and moved it onto the land acquired on date 2nd. The company paid $5,000 cash for the premium on a two-year insurance policy. The company provided services to a client and immediately collected $4,600 cash. The company purchased $4,500 of additional computer equipment by paying $800 cash and signing a long-term note payable for $3,700. The company completed $4,250 of services for a client. This amount is to be received within 30 days. The company purchased $950 of additional office equipment on credit. The company…
At the beginning of April, Haron Kadir launched a custom computer solutions company called Softworks. The company had the following transactions during April. April Haron Kadir invested $65,000 cash, office equipment with a value of $5,750, and $30,000 of computer equipment in the company. The company purchased land worth $22,000 for an office by paying $5,000 cash and signing a long-term note payable for $17,000. The company purchased a portable building with $34,500 cash and moved it onto the land acquired on date 2nd. The company paid $5,000 cash for the premium on a two-year insurance policy. The company provided services to a client and immediately collected $4,600 cash. The company purchased $4,500 of additional computer equipment by paying $800 cash and signing a long-term note payable for $3,700. The company completed $4,250 of services for a client. This amount is to be received within 30 days. The company purchased $950 of additional office equipment on credit. The company…
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