Analyze the effects of the events on the accounting equation of al shriver, cpa. prepare the following financial statements: income statement. statement of retained earnings. balance sheet. shriver deposited $70,000 in a new business bank account titled al shriver, cpa. the business issued common stock to shriver. paid $350 cash for letterhead stationery for new office. purchased office furniture for the office on account, $6,800. consulted with tax client and received $1,800 for services rendered. paid utilities, $260. finished tax hearings on behalf of a client and submitted a bill for accounting services, $12,000. paid office rent, $1,400. received amount due from client that was billed on february 12. paid full amount of accounts payable created on february 7. cash dividends of $4,000 were paid to stockholders. analyze the effects of the events on the accounting equation of al shriver, cpa. analyze the events chronologically, one transaction at a time. beginning with the transaction on the 6th, calculate the balance in each account after analyzing the effect of the transaction on the accounting equation. after calculating the ending balance of each account on the 28th, calculate total assets and total liabilities and equity. (complete only the necessary answer boxes for your transaction lines. [do not enter any zeros for your transaction lines.] carry down all balances to the "bal." line, including zero balance accounts, entering a "0" for any zero balances. enter a decrease in an account with a minus sign or parentheses.

Required information problem 15-1a production costs computed and recorded; reports prepared lo c2, p1, p2, p3, p4 [the following information applies to the questions displayed below. marcelino co.'s march 31 inventory of raw materials is $84,000. raw materials purchases in april are $540,000, and factory payroll cost in april is $364,000. overhead costs incurred in april are: indirect materials, $59,000; indirect labor, $26,000; factory rent, $38,000; factory utilities, $19,000; and factory equipment depreciation, $58,000. the predetermined overhead rate is 50% of direct labor cost. job 306 is sold for $670,000 cash in april. costs of the three jobs worked on in april follow. job 306 job 307 job 308 balances on march 31 direct materials $30,000 $36,000 direct labor 25,000 14,000 applied overhead 12,500 7,000 costs during april direct materials 133,000 210,000 $100,000 direct labor 105,000 150,000 101,000 applied overhead ? ? ? status on april 30 finished (sold) finished in process (unsold) required: 1. determine the total of each production cost incurred for april (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from march 31). a-materials purchases (on credit). b-direct materials used in production. c-direct labor paid and assigned to work in process inventory. d-indirect labor paid and assigned to factory overhead. e-overhead costs applied to work in process inventory. f-actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) g-transfer of jobs 306 and 307 to finished goods inventory. h-cost of goods sold for job 306. i-revenue from the sale of job 306. j-assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions. 3. prepare a schedule of cost of goods manufactured. 4.1 compute gross profit for april. 4.2 show how to present the inventories on the april 30 balance sheet.