I have a few questions please help as soon as possible thanks…

 ATTACHMENT PREVIEW Download attachment1. (TCO 1) Owner’s equity on 1/1/2013 and 12/31/2013 were $130,000 and $140,000, respectively. Assetson 1/1/2013 and 12/31/2013 were $210,000 and $250,000, respectively. Liabilities on 1/1/2013 were$80,000. What is the amount of liabilities on 12/31/2013? Describe how you used the accounting equationto come up with your answer. Why is the accounting equation so important to accounting? (Points : 25)              Question 2. 2. (TCO 2) Journalize the following transactions:i. Began business by making a deposit in a company bank account of $36,000, in exchange for 3,600shares of common stock.ii. Paid the premium on a 1-year insurance policy, $3,600.iii. Paid the current month’s rent, $4,000. (Points : 25)             

View the Answer Question 3. 3. (TCO 3) PDQ, Inc. has the following assets, liabilities, revenues, and expenses for thecurrent year.EquipmentRentexpenseSalaryexpenseCashLandServicerevenueNotepayableSuppliesexpenseInterestpayableBuildingInsuranceexpenseAccountsreceivableCommonstockAccountspayableUtilitiesexpense$55,000$22,000$36,000$20,000$39,000$95,000$30,000$2,500$500$100,000$2,400$15,500$25,000$19,600$3,000Prepare the Income Statement for ABC, Inc. for the current year.

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