Chapter 1, Problem P1.53BPGB

1*1 S 4H I *it»g the j>_si> nmn|i equation foi tranMition Mwljr«M and preparing financial statement*
\ i _k '  , i!s' t* ,ial ha imti law iJfiur. wbnb *hcopcralcs as a u4c
pupr '• p . • • ivnm •>! tHs* ttrw entity b \tiaiu lYufuin Attorney. lYiuvm
•..iv'in' .lining iIk occani/iiig phase of the nrw Intones* id .
i ii . p. i molt. IVsanbcr 2D16. Stwtn of the rwnts wtiv personal
.isd. ti jvm at’ U tlv Uss prxiue. Otltcn wav basinos trwuetiom and should be Avrantrd Uv bi rhs business

Dec 1	So 1 prrsosa nvestment in Nike stock wtxb she had owned for wnwal yark '«cerv r,j 52 5 000 tash
	Deposited the $25 000 cash from the tale of the fake stock n her person.,I bank account
3	Deposed SfeS 000 cash m a new business bank excojnt Vtled Anara f’eterson. Attorney The bustnew qaw* <-<tpla» to hftenor.
5	•'aid $40C cash tot *w cartndqes for the prnter
7	Purchased computer tor the law office agteemq to pay the account 56.800 witrsn thw months
9	Re, es«l $2,900 cash hom customers for services rendered
15	Recrned Dll him ?be Jawy& *o» rnaqa^e sotaerptron. $3CC (Ihe Miscekaneous Hpp’V* account **gt;
23	Freshed oert heat r
28	Pad b# frren The Lawyer
30	Pad utiilies $B40
11	Received $2 800 cash from clients btlwt on Dec 23
31	Peterson sMthdien cash of $2 500

Requirements

1. Analyze rbe effects of the preceding evenu on the accounting equation ol Ariana iVicrson. Attorney Use .1 format similar to Exhibit l-S.
2. Prepare th»- follow mg financial statemcttCK
1. tixorne staiciticiiL
2. Statement of owner's equity.
3. Balance .sheet.