Background: Flyer Corp. began operations on January 1, 2020.

During the 1st month, it had the following transactio

January 1, 2020 Raised cash by issuing common stock

Raised cash by issuing bonds
Purchased a 2 year insurance policy with cash

January 10, 2020 Used cash to purchase equipment

Purchased supplies on account

January 15, 2020 Hired an assistant with annual salary

January 20, 2020 Performed services for a customer for cash

Performed services for a customer on account

January 23, 2020 Received a cash advance from a customer

January 25, 2020 Paid for the supplies purchased on account

January 30, 2020 Received partial payment from the customer on account

Additional Information
1) The bonds issued on January 1st have an APR of 5%, paid annually.
2) Equipment depreciates straight line over 10 years and has no salvage value.
3) Supplies on-hand at the end of the month were worth $26,000.
4) The assistant will not get paid for his first 2 weeks of work until February 10.
5) No services were completed for the customer who paid in advance by the end of January.

Instructions: Complete the 1st month accounting cycle through financial statement preparation using spreadsheet s
it had the following transactions.

$ 350,000.00
$ 250,000.00
$ 48,000.00

$ 75,000.00
$ 30,000.00

$ 60,000.00

$ 15,000.00
$ 3,000.00

$ 5,000.00

$ 30,000.00

$ 1,000.00

reparation using spreadsheet software.