For each of the descriptions below, indicate the changes on the following financial statement elements: total assets, total liabilities. owners equity, revenues, gains, expenses, losses and income. The changes are those immediately caused by each of the numbered items. Alex provides consulting services for clients. Place the proper dollar amount in the appropriate space and arrows up or down to indicate the effect on the financial statement element Alternatively, you may use or to indicate the changes in the element. 1. Donna paid $160 as a deposit to Alex for consulting services that Alex would not perform until next month. The value of all work covered by the contract is $220. Show the accounting for Donna. 2. At the time Alex received the $160 payment, show the accounting for Alex related to the previous item. 3. Alex performed all of the work as required in the next month. Show the accounting for Donna as a result of Alex having performed the services for Donna Donna and Alex agreed that the remaining amount owed to Alex would be paid within three weeks. 4. Show the accounting for Alex as a result of having performed all of the work required under the contract. 5. On February 1, Year 1, Merle rented an apartment for $40 per month. Merle moved in on February 1, Year 1. The landlord and Merle agreed that Merle would pay for 6 months rent on the apartment on June 1, Year 1. Do the accounting for Merle on February 1, Year 1. 6. Now, do the accounting for the landlord on February 1, Year 1. 7. On February 28, Year 1, show the impact in the financial statements of Merle. 8. On February 28, Year 1, show the impact in the financial statements of the landlord. 9. Sarah went to work and earned $120 that will be paid to her on the next day. Do the employers accounting for this amount on the day before the payday will occur. 10. When Sarahs payday arrived on the next day, the employer paid Sarah the amount owed and paid Sarah an additional $100 to cover the amount Sarah wo
For each of the descriptions below, indicate the changes on the follo
For each of the descriptions below, indicate the changes on the following financial statement elements: total assets, total liabilities. owners equity, revenues, gains, expenses, losses and income. The changes are those immediately caused by each of the numbered items. Alex provides consulting services for clients. Place the proper dollar amount in the appropriate space and arrows up or down to indicate the effect on the financial statement element Alternatively, you may use or to indicate the changes in the element. 1. Donna paid $160 as a deposit to Alex for consulting services that Alex would not perform until next month. The value of all work covered by the contract is $220. Show the accounting for Donna. 2. At the time Alex received the $160 payment, show the accounting for Alex related to the previous item. 3. Alex performed all of the work as required in the next month. Show the accounting for Donna as a result of Alex having performed the services for Donna Donna and Alex agreed that the remaining amount owed to Alex would be paid within three weeks. 4. Show the accounting for Alex as a result of having performed all of the work required under the contract. 5. On February 1, Year 1, Merle rented an apartment for $40 per month. Merle moved in on February 1, Year 1. The landlord and Merle agreed that Merle would pay for 6 months rent on the apartment on June 1, Year 1. Do the accounting for Merle on February 1, Year 1. 6. Now, do the accounting for the landlord on February 1, Year 1. 7. On February 28, Year 1, show the impact in the financial statements of Merle. 8. On February 28, Year 1, show the impact in the financial statements of the landlord. 9. Sarah went to work and earned $120 that will be paid to her on the next day. Do the employers accounting for this amount on the day before the payday will occur. 10. When Sarahs payday arrived on the next day, the employer paid Sarah the amount owed and paid Sarah an additional $100 to cover the amount Sarah wo
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