Please use the files that I have uploaded below. Please use the excel spreadsheet for your final document. Thank you in advance. Please create these tables in an excel document. Please create a new sheet for each answer. Thank you in advance. 1-3A. Thefollowing is selected financial information for Affiliated Company as ofDecember 31 2011: liabilities $34000; equity $56000; assets $90000. Required Prepare the balancesheet for Affiliated Company as of December 31 2011. 1-4A. Thefollowing is selected financial information for Sun Energy Company for the yearended December 31 2011: revenues $65000; expenses $50000; net income$15000. Required Prepare the 2011calendar-year income statement for Sun Energy Company. 1-8A. J. D. Simpson started The SimpsonCo. a new business that began operations on May 1. The Simpson Co. completedthe following transactions during its first month of operations. May 1J. D. Simpson invested $60000 cash in the company in exchange for common stock. 1 Thecompany rented a furnished office and paid $3200 cash for Mays rent. 3 Thecompany purchased $1680 of office equipment on credit. 5 Thecompany paid $800 cash for this months cleaning services. 8 Thecompany provided consulting services for a client and immediately collected$4600 cash. 12The company provided $3000 of consulting services for a client on credit. 15The company paid $850 cash for an assistants salary for the first half of thismonth. 20The company received $3000 cash payment for the services provided on May 12. 22The company provided $2800 of consulting services on credit. 25The company received $2800 cash payment for the services provided on May 22. 26The company paid $1680 cash for the office equipment purchased on May 3. 27The company purchased $60 of advertising in this months (May) local paper oncredit; cash payment is due June 1. 28The company paid $850 cash for an assistants salary for the second half ofthis month. 30The company paid $200 cash for this months telephone bill. 30The company paid $480 cash for this months utilities. 31The company paid $1200 cash for dividends. Required 1. Arrange the followingasset liability and equity titles in a table like Exhibit 1.9: Cash; Accounts Receivable;Office Equipment; Accounts Payable; Common Stock; Dividends; Revenues; andExpenses. Chapter 1Introducing Accounting in Business 41 2. Show effects of thetransactions on the accounts of the accounting equation by recording increasesand decreases in the appropriate columns. Do not determine new account balancesafter each transaction. Determine the final total for each account and verifythat the equation is in balance. 3. Prepare an incomestatement for May a statement of retained earnings for May a May 31 balancesheet and a statement of cash flows for May. 2-3A. Theaccounting records of Fabiano Distribution show the following assets andliabilities as of December 31 2010 and 2011. Late in December 2011 the business purchased a small office buildingand land for $225000. It paid $120000 cash toward the purchase and a $105000 note payable wassigned for the balance. Mr. Fabiano had to invest $35000 cash in the business(in exchange for stock) to enable it to pay the $120000 cash. The business also pays $3000 cash per month for dividends. 86 Chapter 2Analyzing and Recording Transactions Required 1. Preparebalance sheets for the business as of December 31 2010 and 2011. (Hint: Report only total equity onthe balance sheet and remember that total equity equals the difference betweenassets and liabilities.) 2. Bycomparing equity amounts from the balance sheets and using the additionalinformation presented in this problem prepare a calculation to show how muchnet income was earned by the business during 2011.
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