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 Assets Accounts Cash + Receivable + Supplies + 2,150 3,300 Equipment 12,400 = = = Liabilities Accounts Payable 7,900 + Stockholders' Equity Retained Earnings 4,150 Common Stock + 5,800 Type of Equity Transaction

September 30, 2021 financial position Bal Assets = Liabilities + Accounts Payable 7,900 Accounts Cash + Receivable + Supplies + Equipment = 2,150 3,300 12,400 + Stockholders' Equity Retained + Earnings 4,150 Common Stock 5,800 I

Requirement 2. 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 Revenues: Expenses: Net income (loss) 00

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 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