Nicola recently started her own business as an interior designer. Her business records reveal the following transactions: Jan 1 Nicola contributed $5,000 cash and a computer worth $2,000 to start the business. Jan 2 Nicola paid office rent of $2,200 for the month. Jan 7 Nicola paid $400 to advertise the business for the month. Jan 9 Nicola purchased a business vehicle worth $20,000, paying $1,000 cash with the remainder financed by a loan. Jan 12 Nicola provided consulting services to a client for $3,000 cash. Jan 15 Nicola took cash drawings of $800. Jan 20 Nicola earned $4,000 in consulting fees on credit. Jan 25 Nicola received an electricity account for the month of $250. Jan 30 Nicola paid her assistant wages of $1,900 cash. (a) Perform transaction analysis in the table below.

Transaction Analysis: Exercise 1:Mark Jones, an engineering graduate, experienced the following business events in the month ofSeptember:1. He started an engineering consulting business with a cash investment of $10,000 andoffice equipment worth $5,000.2. Purchased office supplies (stationery, pens, paper etc.). $800 cash was paid.3. Bought a scanner/printer for $500 on account from IBM.4. Paid $400 salary to staff.5. Received electricity bill for $300.6. Earned consulting fees of $20,000 for services completed. Of this, $12,000 was receivedin cash and $8,000 was owed by clients.7. Paid $300 to IBM as repayment.8. Withdrew $100 for own use.9. Received $1,000 from one of the clients who owed him money.10. As at September 30, there was $600 of office supplies on hand.Required:Analyze these transactions according to the accounting equation using transaction analysis.Transaction Analysis: Exercise 2:On April 20XX, J. Doff decided to open a painting business called J. Doff Painting Services. Thefollowing transactions took place during the first month of April.1. Owner contributed $20,000 cash to commence business.2. Billed customers for services performed, $9,000.3. Purchased painting supplies on credit for $400.4. Received $4,000 from customers from (2) above.5. Purchased a van for $8,000, paying $2,000 in cash and obtaining a loan for theremainder.6. Paid $100 of amount due for supplies from (3) above.7. J. Doff withdrew $1,000.8. Used $100 worth of painting supplies.9. Paid expenses in cash (advertising $300, telephone $400, electricity $300).10. Paid $2,000 off loan for van in (5) above.REQUIRED:Record the transactions in an accounting equation table (transaction analysis)

On the first day of the New Year to get her business started, the owner/photographer of Exquisite Portraits Inc. paid $200 for business cards, $1000 for a listing in Yellow Pages, and $250 for an annual business license. She also leased a professional portrait camera and studio lighting equipment by signing an agreement to pay a monthly lease of $1000 each month for the next 12 months. This lease is ironclad: She must pay for all 12 months and she cannot sublease to anyone else. She rents her office and studio for $1,400 per month that must be paid at the beginning of each month. She does not have a lease on the office/studio, so she can vacate the office/studio at the end of any month should she decide to move to a new location or to go out of business. After she opens the office/studio on the first day of each month, her monthly cost of electricity for lighting the office and running her coffee machine is constant $45 per month, because she always keeps the lights on in the office and drinks the same amount of coffee no matter how many photos she shoots each month. Additional electricity is required for the portrait studio lights, which varies directly with number of hours the lights are used each month for photo sessions. Last year, before starting this business, the owner of Exquisite Portraits Inc. earned a salary of $5000 per month working at a bank. Answer the following questions about the costs for Exquisite Portraits Inc.:a. What are the monthly fixed costs, quasi-fixed costs, and variable costs for Exquisite Portraits Inc.?b. If the owner of Exquisite Portraits Inc. wants to close her studio and go out of business at the end of August, identify her sunk costs and avoidable costs.c. At the end of August, what role would the sunk cost play in the owner/photographer’s decision to go out of business?

M. Lewis opened an Innovation Furniture shop on 01 August. During August, the following transactions of the business took place. (Note GST is ignored).1.      The owner invested cash of $22,000 to start the business.2.      The shop borrowed $5,500 from the bank.3.      A 6-month shop supplies inventory (boxes, scissors, tape, glue gun, ribbon, etc.) was purchased for $1,100 cash.4.      Office equipment was purchased at the cost of $16,000 in cash.5.      A store location was rented and $2,500 was paid for the first month's rent.6.      Inventory of $15,500 was purchased, $5,500 cash was paid to the suppliers and the balance will be paid within 30 days.7.      During the first month, Sales totalled $23,000, of which $10,200 was sold on account. The cost of the goods sold totalled 40% of sales.8.      Paid a total of $ 1,350 of the amount owed to suppliers from the transaction (6).9.      M. Lewis withdrew $ 470 for personal use.10.  At the end of the month, a stocktake of the supplies showed an amount of supplies worth $545.Answer the following five (5) questions based on the above information and enter only the whole number as an answer, for example, 123456. Two (2) marks for each correct answer, a total of ten (10) marks.What is the Net income of Innovation Furniture Shop for August ($)?   Answer 1 Question 1         What is the Cash balance on 31 August ($)? Answer 2 Question 1What is the Account payable balance on 31 August ($)?     Answer 3 Question 1                     What is the Owner's capital balance on 31 August ($)?   Answer 4 Question 1What is the Expense for August ($)?

The Black Limo Company (BLC) purchased a limo on January 1 of Year 1. The limo cost $48,000 cash. It had an expected useful life of 4 years and a $8,000 salvage value. Assuming BLC uses straight-line depreciation, cash flow from operating activities shown on the Year 2 statement of cash flows is Blank______.Multiple choice question.$10,000$0$24,000$20,000

P is a sole proprietor whose accounting records are incomplete. All the sales are cash sales and during the year $50,000 was banked, including $5,000 from the sale of a business car. He paid $12,000 wages in cash from the till and withdrew $2,000 per month as drawings. The cash in the till at the beginning and end of the year was $300 and $400 respectively.What were the sales for the year?