Instructions 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings: = Liabilities Assets Owner's Equity Maria Maria Misc Expense Adams, Accounts Adams, Sales Rent Salaries Auto Supplies Expense Payable Capital - Drawing + Commissions Expense Expense CashSupplies Expense 2. Prepare an income statement for April, a statement of owner's equity for April, and a balance sheet as of April 30.

Melissa recently paid $760 for round trip airfare to San Francisco to attend a business conference for three days. Melissa also put the following expenses: $370 fee to register for the conference, $365 per night for three nights' lodging, $250 for meals and $300 for can fare. Suppose that San Francisco was Melissa permanent residence and business location. She attended the conference in San Francisco and paid $370 for the registration fee. She drove 153 miles over the course of theee days and paid $190 for parking at the conference hotel. In addition, she spent $430 for breakfast and dinner over the three days of the conference. She bought breakfast on the way to the conference hotel, and she bought dinner on her way home each night from the conference. What amount of these costs can Melissa deduct as business expenses?

Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in Ireland. Heresided in the home for the remainder of the year. Rental income from the property was $6,500.Expenses associated with use of the home for the entire year were as follows: Real property taxes $ 3,100Mortgage interest 12,000Repairs 1,500Insurance 1,500Utilities 3,900Depreciation 13,000 a. What effect does the rental have on Dillon's AGI? b. What effect does the rental have on Dillon's itemized deductions (assuming he itemizesdeductions before considering deductions associated with the home)?

Cassi (SSN 412-34-5670) has a cash-basis home cleaning business she runs as a sole proprietorship. The following are the results from business operations for the tax year 2019:     Gross receipts $ 203,000   Business mileage: 27,000 (miles incurred ratably throughout       the year) 35,000 miles total during the year 2019       Van (over 6,000 lbs) placed in service 1/01/19, cost 27,000       Postage   (500 ) Wages   (26,000 ) Payroll taxes   (1,950 ) Supplies   (12,500 ) Phone   (1,250 ) Internet service   (600 ) Rent   (2,400 ) Insurance   (2,800 ) Van expenses   (4,500 )     Business assets Date Purchased Cost Computer 1 5/18/19 $ 2,200   Computer 2 6/01/19   2,700   Printer 3/01/18   900   Copier 3/02/18   2,100   Furniture 3/01/18   6,000       Required: Determine Cassi’s self-employment income and QBI deduction. Prepare Schedule C and Schedule SE. § 179 expense is elected on all eligible assets (§ 179 was not taken on assets…