Create a Balance sheet from the information provided NARRATIVE OF TRANSACTIONS(Note: Unless stated otherwise, assume that all cashin and out is checking account related)DateTransactionNo.Kyle opened two accounts at Pioneer State Bank, using 53,000 of his own money, H.deposited $2,500 in a checking account and $500 into savings.7/1Kyle borrowed $6,000 from his Aunt Martha and signed a note with 8% interest, Und.the terms of the note, he must make payments of $250 plus accrued interest on the firday of each month. Kyle put $4,500 into his checking account and S1,500 into savings7/27/3Kyle purchased a 2006 Nissan pickup truck by writing a check for $4,820.3.Kyle purchased insurance for the pickup truck at a cost of $150 per month. He pajd fothe month of July.47/3Kyle established a cell phone account for the business. The phone was free, and he paid$75 for the first month's service.7/3Kyle returned to the bank and applied for a VISA" card. He received a card with a $1,000credit limit.7/5Kyle purchased a lawn mower and garden tools on account from Young's Home &Garden Center. The total cost was $1,080. (Debit Lawn Equipment.)7/5Kyle purchased $185 worth of gloves, stakes, trimmer lines, and other supplies at thelocal hardware store using his VISA card.8.7/69.Kyle paid $80 cash for gas and oil for his pickup truck and the mower.7/6A box of 500 additional checks arrived from the bank along with a memo that the $25cost was charged to Kyle's checking account. He considered this an immaterial amountand charged it all to Office Supplies Expense.7/7Kyle had 1,500 advertising flyers printed to promote his new business. The flyers cost$225 and are considered advertising materials. He also purchased $90 of office supplies.Kyle used his VISA for all of these purchases.117/712One of Kyle's neighbors, Mr. Lee, is leaving town for six weeks. He paid Kyle $360 tomow his lawn each week and keep his hedges trimmed while he is away.7/8137/9Kyle paid $75 cash to rent some equipment needed for the Abrams job (see transaction15).147/10 Kyle purchased another S60 of gas using his VISA card.7/11 Kyle completed a landscaping and clean-up job for Mr. Abrams. He left Mr. Abrams a billfor $720.15167/13 Kyle charged another $140 in landscaping supplies at Young's Home & Garden Center.6.eI6 Cmae Leaming". May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part10%D

Question

Create a Balance sheet from the information provided NARRATIVE OF TRANSACTIONS(Note: Unless stated otherwise, assume that all cashin and out is checking account related)DateTransactionNo.Kyle opened two accounts at Pioneer State Bank, using 53,000 of his own money, H.deposited $2,500 in a checking account and $500 into savings.7/1Kyle borrowed $6,000 from his Aunt Martha and signed a note with 8% interest, Und.the terms of the note, he must make payments of $250 plus accrued interest on the firday of each month. Kyle put $4,500 into his checking account and S1,500 into savings7/27/3Kyle purchased a 2006 Nissan pickup truck by writing a check for $4,820.3.Kyle purchased insurance for the pickup truck at a cost of $150 per month. He pajd fothe month of July.47/3Kyle established a cell phone account for the business. The phone was free, and he paid$75 for the first month's service.7/3Kyle returned to the bank and applied for a VISA&#34; card. He received a card with a $1,000credit limit.7/5Kyle purchased a lawn mower and garden tools on account from Young's Home &Garden Center. The total cost was $1,080. (Debit Lawn Equipment.)7/5Kyle purchased $185 worth of gloves, stakes, trimmer lines, and other supplies at thelocal hardware store using his VISA card.8.7/69.Kyle paid $80 cash for gas and oil for his pickup truck and the mower.7/6A box of 500 additional checks arrived from the bank along with a memo that the $25cost was charged to Kyle's checking account. He considered this an immaterial amountand charged it all to Office Supplies Expense.7/7Kyle had 1,500 advertising flyers printed to promote his new business. The flyers cost$225 and are considered advertising materials. He also purchased $90 of office supplies.Kyle used his VISA for all of these purchases.117/712One of Kyle's neighbors, Mr. Lee, is leaving town for six weeks. He paid Kyle $360 tomow his lawn each week and keep his hedges trimmed while he is away.7/8137/9Kyle paid $75 cash to rent some equipment needed for the Abrams job (see transaction15).147/10 Kyle purchased another S60 of gas using his VISA card.7/11 Kyle completed a landscaping and clean-up job for Mr. Abrams. He left Mr. Abrams a billfor $720.15167/13 Kyle charged another $140 in landscaping supplies at Young's Home & Garden Center.6.eI6 Cmae Leaming&#34;. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part10%D

Accepted Answer

Balance sheet is the positional financial statement which only shows the closing balances of all the…