[P00245322]

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.

[morgaine300]

Please see the guidelines for posting homework problems:
Ask Me Help Desk - Announcements in Forum : Homework Help

[pready]

First you need to analyse the transactions to figure out what accounts are affected and whether the account is increasing or decreasing, and by how much.

Also you need to know the accounting equation, which is:

Assets = Liabilities + Owners Equity.

Expanded the equation is:

Assets = Liabilities + Owners Equity + Revenues - Expenses.

For example in your first transaction your accounts that are affected are Cash and the Capital account. Both accounts increase by $10,000

Assets Increase by 10,000 and the Capital Account Increase by 10,000, therefore

10,000 = 10,000

[morgaine300]

Chances are, for the "expanded" equation they mean totally expanded with every account listed:
Cash + A/R + Supplies, etc.
(Although it should show that in the problem itself. If nothing else, plenty of examples of such.)

[noamijob]

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

[pready]

See previous posts for an explanation on what to do.