Accounting excel problems

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Sheet1

Requirements:
1. Analyze the effects of the events on the accounting equation Transactions :
of the proprietorship of Arron Judge, CPA
Feb. 4 Judge received 26,000 cash from former acct. partners*
2. As of February 28, compute Feb. 5 Deposited $60,000 in new business bank
a. Total assets account titled, Arron Judge, CPA.
b. Total liabilities The business gave capital to Judge.
c. Total owners equity Feb. 6 Paid $600 cash for letterhead stationary for the new office
d. Net income of net loss for February Feb. 7 Purchased office furniture for the office. The business will pay the account payable,
$9,900, within 3 months.
Feb. 10 Judge sold a personal investment in Amazing.com stock,
which he had owned for several years, receiving $55,000 cash*
Feb. 11 Judge deposited the $55,000 cash from sale of the Amazing.com stock in his personal
bank account *
Feb. 12 A representative of a large company telephoned Judge and told him of the company's
intention to transfer its accounting business to Judge.
Feb. 18 Finished tax hearings on behalf of a client and submitted a bill for accounting
services, $13,500. Judge expected to collect from his client within two weeks.
Feb. 25 Paid office rent, $1,100
Feb. 28 Withdrew $9000 for personal use
* Personal transaction of Arron Judge.
Complete only the necessary answer boxes for your transaction lines. Carry down all balances. Including zero balance accounts. Enter decreases with a minus sign or parentheses.
Requirement 1.
Analyze the effects of the events on the accounting equation of the proprietorship of Arron Judge, CPA.
First lets complete transactions for Feb. 4 through Feb. 5. Leave cells blank for any personal transactions.
Assets Liabilities + Owners Equity
Date Cash + Acct. Rec. + Supplies Office Furniture Acct. Payable Arron Judge, Capital Type of Owners Equity Transaction
4-Feb + +
5-Feb
Bal.
Next we will complete the transaction from Feb. 6 through Feb. 7.
Assets Liabilities + Owners Equity
Date Cash + Acct. Rec. + Supplies Office Furniture Acct. Payable Arron Judge, Capital Type of Owners Equity Transaction
6-Feb + +
7-Feb
Bal.
Next we will complete the transactions from Feb. 10 through Feb. 25:
Assets Liabilities + Owners Equity
Date Cash + Acct. Rec. + Supplies Office Furniture Acct. Payable Arron Judge, Capital Type of Owners Equity Transaction
10-Feb + +
11-Feb
12-Feb
Bal.
Assets Liabilities + Owners Equity
Date Cash + Acct. Rec. + Supplies Office Furniture Acct. Payable Arron Judge, Capital Type of Owners Equity Transaction
18-Feb + +
Bal
25-Feb
Bal.
Finally we can complete the February 28 transaction:
28-Feb + +
Bal
Requirement 2
Determine the amounts for the following:
a. Total assets
b. Total Liabilities
c. Total owners equit
d. Net income for February

Arron Judge practices accounting with a partnership for five years. Recently he opened his own accounting firm, which he operates as a proprietorship. The name of the new entity is Arron Judge, CPA. Judge experienced the following events during the organizing phase of the new business and its first month of operations. Some of the events were personal and did not affect the business.