Life, Inc., experienced the following events in 2018, its first year of operation:Performed counseling services for $23,600 cash.On February 1, 2018, paid $16,200 cash to rent office space for the coming year.Adjusted the accounts to reflect the amount of rent used during the year.RequiredBased on this information alone:1)Record the events under an accounting equation.2)Prepare an income statement, balance sheet, and statement of cash flows for the 2018 accounting period.3)Ignoring all other future events, what is the amount of rent expense that would be recognized in 2019?Under required please if you could show me how to do 1,2, &3.

Considering the following events, determine which month the revenue or expenses would be recorded using the accounting method specified. a. Gerber Company uses the cash basis of accounting. Gerber prepays cash in May for insurance that only covers the following month, (June). b. Matthews and Dudley Attorneys uses the accrual basis of accounting. Matthews and Dudley Attorneys receives cash from customers in June for services to be performed in July. c. Eckstein Company uses the accrual basis of accounting. Eckstein prepays cash in October for rent that covers the following month, (October). d. Gerbino Company uses the cash basis of accounting. Gerbino makes a sale to a customer in February but does not expect payment until March.

Jose Loder established Bronco Consulting on August 1, 2019. The effect of each transaction and the balances after each transaction for August follow: Instructions 1. Prepare an income statement for the month ended August 31, 2019. 2. Prepare a statement of owners equity for the month ended August 31, 2019. 3. Prepare a balance sheet as of August 31, 2019. 4. (Optional) Prepare a statement of cash flows for the month ending August 31, 2019.

Financial statements Outlaw Realty, organized August 1. 20Y7, is owned and operated by Julie Baxter. How many errors can you find in the following financial statements for Outlaw Realty, prepared after its first month of operations? Assume that the cash balance on August 31, 20Y7, is $51,600 and that cash flows from operating activities is reported correctly.

A summary of cash flows for Sentinel Travel Service for the year ended August 31, 2016, follows: The cash balance as of September 1, 2015, was 89,000. Prepare a statement of cash flows for Sentinel Travel Service for the year ended August 31, 2016.