Answer Happy

Requirement 1. Analyze the effects of the preceding transactions on the accounting equation of Willis Computing, Inc. Enter the transactions in the accounting equation, beginning with transaction "a." For transactions that affect stockholders' equity, select the type of equity transaction. For transaction "g", enter the amounts into the accounting equation as one transaction. After all transactions have been entered, calculate the ending balance of each account, total assets, and total liabilities and stockholders' equity. (Use parentheses or a minus sign when decreasing accounts. If an input field is not used in the table leave the field empty; do not enter a zero.) Bal (a) (b) (c) (d) (e) (f) (g) (h) Bal Total Accounts Cash + Receivable + Supplies + Equipment = 2,150 12,400 = Revenues: Assets Expenses: Net income (loss) 3,300 = Liabilities. Accounts Payable 7,900 + + Stockholders' Equity Common Retained Stock + Earnings 5,800 4,150 Type of Equity Transaction September 30, 2021 financial position Cash Bal 2,150 Requirement Prepare the income statement of Willis Computing, Inc., for the month ended October 31, 2021. List expenses in decreasing order by amount. Select the labels and enter the amounts to complete the income statement. Remember to list expenses in decreasing order by amount. (Use parentheses or a minus sign for a net loss.) Review the accounting equation completed in Requirement 1. Willis Computing, Inc. Income Statement Month Ended October 31, 2021 Assets Accounts + Receivable + Supplies + Equipment 3,300 12,400 Print Requirements 2. 3. = 4. = Done Liabilities + Accounts Payable. + 7,900 1. Analyze the effects of the preceding transactions on the accounting equation of Willis Computing, Inc. Stockholders' Equity Common Retained Stock + Earnings 4,150 5,800 Prepare the income statement of Willis Computing, Inc., for the month ended October 31, 2021. List expenses in decreasing order by amount. Prepare the entity's statement of retained earnings for the month ended October 31, 2021. - X Print Prepare the balance sheet of Willis Computing, Inc., at October 31, 2021. Done X
Requirement 3. Prepare the entity's statement of retained earnings the month ended October 31, 2021. Select the labels and enter the amounts to complete the statement of retained earnings. (Use parentheses or a minus sign for a net loss. Include a subtotal after the "Add" line of the statement.) Review the accounting equation completed in Requirement 1. Add: Subtotal Less: Willis Computing, Inc. Statement of Retained Earnings Month Ended October 31, 2021 Requirement 4. Prepare the balance sheet of Willis Computing, Inc., at October 31, 2021. Select the labels and enter the amounts to complete the balance sheet. (Do not classify the balance sheet into current and long-term sections. If an input field is not used in the statement leave the field empty; do not select a label or enter a zero.) Review the accounting equation completed in Requirement 1. Willis Computing, Inc. Balance Sheet October 31, 2021 Total assets Assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity