Business, 17.06.2020 15:57 nananna90

Anastasia Pivone recently opened her own law office on March â€‹1, which she operates as a corporation. The name of the new entity is Anastasia Pivoneâ€‹, Attorney. Pivone experienced the following events during the organizing phase of the new business and its first month ofâ€‹ operation, March 2018. Some of the events were personal and did not affect the law practice. Others were business transactions and should be accounted for by the business. Mar.
1 Sold personal investment in eBay stock, which she had owned for several years, receiving $33,000 cash.
2 Deposited the $33,000 cash from the sale of the eBay stock in her personal bank account.
3 Deposited $75,000 cash in a new business bank account toed Alana Pivone, Attorney. The business gave capital to Pivone.
5 Paid $500 cash for ink cartridges for the printer
7 Purchased computer for the law office. agreeing to pay the account, $7,000, within three months.
9 Received $4,000 cash from customers for services rendered.
15 Received bill from The Lawyer for magazine subscription, $260.
23 Finished court hearings on behalf of a client and submitted a bill for legal services, $8,000, on account
28 Paid bill from The Lawyer
30 Paid utilities, $900.
31 Received $2,300 cash from clients bitted on Mar. 23.
31 Pivone withdrew cash of $1,500.

Required:
1. Analyze the effects of the preceding events on the accounting equation of the sole proprietorship of Alana Pivone, Attorney

2. Prepare the following financial statements.
a. Income statement
b. Statement of owner's equity
c. Balance sheet

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Anastasia Pivone recently opened her own law office on March â€‹1, which she operates as a corporati...

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