Question 1 (1 mark) Complete the equations of the following financial statements: 1. Income Statement: Net Income = Tota

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Question 1 1 Mark Complete The Equations Of The Following Financial Statements 1 Income Statement Net Income Tota 1 (24.42 KiB) Viewed 55 times

Question 1 (1 mark) Complete the equations of the following financial statements: 1. Income Statement: Net Income = Total Revenue Total Expenses. 2. Statement of Retained Earnings: Net Ending Retained Earnings = Opening Retained Earning Profits Dividend Paid_ Question 2 (8 marks) For each of the below events, perform transaction analysis, prepare journal entries and prepare T- accounts. 1. Receives and pays for a $15,000 truck and $5,000 of equipment. Transaction Analysis Assets Liabilities + Stockholders' Equity Journal Entry Relevant T-Accounts (mention debit and credit) Enter Account Name Enter Account Name Enter Account Name 2. Purchases $300 of supplies on account Transaction Analysis Assets Liabilities + Stockholders' Equity Journal Entry