Answer Happy

04 Financial Activities during Jan 2020 (Only these transactions during the month) AR Payments deposited in 01/2020 and cleared in the bank in 01/2020 AP Payments made in 01/2020 and cashed in the bank in 01/2020 AP payments made and uncashed as of 01/31/2020 AP Invoices received on 02/15/2020 for Jan 2020 services AR Invoices issued on 02/01/2020 for Jan 2020 services Depreciation Amount 15,000.00 25,000.00 3,000.00 9,000.00 25,000.00 300.00 Please update the account balances in yellow for the Financials as of 01/31/2020. Use formulas to show your work. Note- Accruals do not reverse 12/31/2019 1/31/2020 Cash 220,000.00 Accounts Receivable 30,000.00 15,000.00 Unbilled AR 12,000.00 Prepaid Expense 3,000.00 3,000.00 Fixed Assets - Gross 5,000.00 5,000.00 Accum. Depreciation (2,000.00) Total Assets 268,000.00 23,000.00 Accounts Payable Credit Card Payable Accrued Liabilities Deferred Revenue 45,000.00 17,000.00 22,000.00 22,000.00 10,000.00 150,000.00 150,000.00 Total Liabilities 227,000.00 189,000.00 Equity Retained Earnings 50,000.00 (9,000.00) 50,000.00 6,700.00 Total Equity 41,000.00 56,700.00 Difference (222,700.00)