Reference no: EM133542235

PROBLEM
Tiana Moore started a new business, Tiana's Solutions, and completed the following transactions during its first year of
a
Tiana Moore received shares from investing $95,000 cash and office equipment valued at $20,000 in
the company
b. The company purchased a $120,000 building to use as an office. It paid $20,000 in cash and signed
a note payable promising to pay the $100,000 balance over the next ten years.
c. The company purchased office equipment for $20,000 cash.
d. The company purchased $1,400 of office supplies and $3,000 of office equipment on credit.
o. The company paid a local newspaper $400 cash for printing an announcement of the office's opening.
f. The company completed a financial plan for a client and billed that client $1.800 for the service.
g. The company designed a financial plan for another client and immediately collected a $2,000 cash fee
h. The company paid $5,000.
i. The company received $1.800 cash from the client described in transaction f.
i. The company made a payment of $2.000 cash on the equipment purchased in transaction d.
k. The company paid $2.000 cash for the office secretary's wages.

Create a table showing the accounting equation, using the following headings for columns: Cash, Accounts Receivable, O Supplies, Office Equipment, Building, Accounts Payable, Notes, Payable, Share Capital, Dividends, Revenue and Expenses additions and subtractions signs to show the dollar effect of each transaction on the individual items of the accounting e Once the table is completed, determine the company's profit.