Leonard Matson completed these transactions during December of the current year. Dec
1 Began a financial services practice by investing $15,000
cash and office equipment having a $5,000 value.
2 Purchased $1,200 of office equipment on credit
3 Purchased $300 of office supplies on credit
4 Completed work for a dient and immediately received a
Payment of $900 cash
8 Completed work for Acme Loan Co. on credit, $1,700.
10 Paid for the supplies purchased on credit on December 3.
14 Paid for the annual $960 premium on an insurance policy.
18 Received payment in full from Acme Loan Co. for the work
Completed on December 8,
27 Leonard withdrew $650 cash from the practice to pay
personal expenses
30 Paid $175 cash for the December utility bills,
30 Received $2,000 from a dient for financial services to be rendered
next year.
1. Prepare general journal entries to record these transactions (30 points)
2. Prepare general ledger accounts (30 points)
3. Prepare a trial balance (10 points)
4. Prepare an income statement (5 points)
5. Prepare statement of owner's equity (10 points)
6. Prepare a balance sheet (15 points)

answerimplicit;

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.