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Extracted text: Cuik Print Print Preview L eDocument Go To Copy Find Print Page Setup Area Page Setup Switch Windows Y Edit Window A DEF H M NCP R siu W XYZ AA AB Name: ASSETS LIABILITIES CAPITAL DRAWING REVENUE EXPENSES 4 个业 个小 个业 个中 个业 个业 个业 个业 个业 个业 个4 个业 Balance: Balance: Balance: Balance: Balance: Balance: Lydia Lewis opens a Math Monkey Tutoring Center on 1/5/21. Her accountant prepared the following chart of accounts: Assets: Cash, Accounts Receivable, Office Equipment, Office Furniture Liabilities: Accounts Payable 个业 个4 个业 个V Owner's Equity: LLewis, Capital and LLewis, Drawing Revenue: Professional Fees Expenses: Salary Expense, Rent Expense, Utilities Expense, Miscellaneous Expense (1) Prepare the Taccounts label each Taccount with the appropriate name, using the chart of accounts above Balance: for each account, remove one of the arrows from the left side of the T Balance: eave the appropriate arrow to indicate what happens on the left side of that particular account in other words, is the left side the increase side or the decrease side of the account? repeat for the ride side of the account 74 个4 repeat for each of the other accounts 个4 个 (2) Record the transactions (a-n) listed below. Record Transactions. R dy Type here to search 82
Extracted text: Practice Chapter 2 (1)- Microsoft Excel Viewer Go To Page Print Setup Area Page Setup Switch Windows Window H NCP Q R stu V W (3) Calculate the final balance in each account. (4) Prepare a Trial Balance (5) Prepare the 3 financial statements from the Trial Balance TRANSACTIONS a. Lewis deposited $50,000 in a bank account in the name of the business on 1/5/21. b. Bought waiting room chairs and tables on account, $1,250 c. Bought a fax/copier/scanner combination from Office Depot for $595, paying $200 in cash and placing the balance on account (Check #1001) d. Bought an intercom system on account from Eastman Office Supply, $375 e Received and paid the telephone bill, $250 (Check #1002) f. Sold professional services on account, $1,484 Received and paid the electric bill, $225 (Check #1003) h. Received and paid the bill for the dycalculia convention, $750 (Check #1004) Sold professional services for cash, $2,575 Paid on account to Eastman Office Supply, $300 (Check #1005) K Paid the rent for the current month, $1,200 (Check #1006) I Paid salary of the receptionist, $880 (Check #1007) m. Lydia withdrew cash for personal use, $800 (Check #1008) n. Received $885 on account from patients who were previously billed tions TreI Balance