P00245322
Sep 18, 2009, 11:37 AM
1. Invested cash to start the repair shop $10,000
2. Purchased equipment for cash $5,000
3. Paid cash for May office rent $400
4. Paid cash for supplies $500
5. Incurred advertising costs in the Beacon News on account $250
6. Received cash from customers for repair services $5,100
7. Withdrew cash for personal use $1,000
8. Paid part-time employee salaries $2,000
9. Paid utilities bills $140
10. Provided repair services on account to customers $750
11. Collected cash for services billed in transaction (10) $120
Instructions:
(a) Prepare a tabular analysis of the transactions using the following column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, N Barone, Capital, N. Barone, Drawings, Revenue, and Expenses.
2. Purchased equipment for cash $5,000
3. Paid cash for May office rent $400
4. Paid cash for supplies $500
5. Incurred advertising costs in the Beacon News on account $250
6. Received cash from customers for repair services $5,100
7. Withdrew cash for personal use $1,000
8. Paid part-time employee salaries $2,000
9. Paid utilities bills $140
10. Provided repair services on account to customers $750
11. Collected cash for services billed in transaction (10) $120
Instructions:
(a) Prepare a tabular analysis of the transactions using the following column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, N Barone, Capital, N. Barone, Drawings, Revenue, and Expenses.