Providing consulting services receiving cash

Q1- Provide an example of each title here and then record the journal entries. Following the first given answer.

1-Providing consulting services receiving cash.

Given answer:

Aziz company provides consulting service and receives 1,000 cash.

Cash.          1,000

        Consulting Revenue.    1,000

2-Investment by an owner.

3-Purchasing equipment for cash.

4-Purchasing supplies on credit.

5-Borrowing money from a bank.

6-Paying investors their shares of dividends.

Q2- Pick two principles or assumptions of accounting and briefly explain it with an example.

Q3- On your own words, explain the purpose and the importance of the following statements:

1- Income Statement 

2- balance sheet

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