Hulk, Inc. uses an accounting period that begins on January 1, 2020 and ends on December 31, 2020. It prepares a balance sheet on January 1 that is left over from 2019. They also complete an income statement, statement of equity, balance sheet for the end of the period and cash flow statement. Your discussion post should describe how each of the financial statements listed would change if Hulk provided services to a customer and collected cash payment during June 2020 for $5,000. Be as specific about the changes as you can be.
For your follow up post, respond to one of your colleagues by posting either your agreement as to the changes or needed corrections. You should continue your follow up by describing how the purchase of equipment with cash in June 2021 would affect the financial statements listed.
Please complete problems 1- 8 in chapter 3 using Excel and post your answers in the dropbox . the file for chapter 3, i have it on the file below.