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The following transactions are July activities of Bennett's Bowling, Inc., which operates several bowling centers, offering customers lanes for games and merchandise for sale.

 The following transactions are July activities of Bennett's Bowling, Inc., which operates several bowling centers, offering customers lanes for games and merchandise for sale.

 e. Bennett's provided to customers bowling merchandise inventory costing Bennett's $3,890. [Consider only the effect on cost goods sold [expense] here. Do not consider sales revenue for this question.]

 f. Bennett's paid $2,300 on the electricity bill for June (recorded as an expense in June).

 g. Bennett's paid $3,800 to employees for work in July.

 h. Bennett's purchased $3,300 in insurance for coverage from August 1 to November 1.

 i. Bennett's paid $1,900 to plumbers for repairing a broken pipe in the restrooms.

 j. Bennett's received the July electricity bili for $4,400 to be paid in August.


 For each of the above transactions, complete the tabulation, indicating the amount and effect (+ for increase and - for decrease) of each transaction. (Remember that A = L + SE; R - E = NI; and NI affects SE through Retained Earnings.) The first transaction is provide as an example. (Reductions in account balances and loss amounts should be indicated with a minus sign.)


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Bennett's Bowling Inc.
Assets = Liabilities + Stockholder's Equity
Event Cash + Prepaid Insurance + Inventory = Accounts Payable + Common Stock + Retained Earnings + Revenues - Expenses = Net Income
e. + +      (3,890.00) = + + + -        3,890.00 =        (3,890.00)
f.        (2,300.00) + + =      (2,300.00) + + + - =
g.        (3,800.00) + + = + + + -        3,800.00 =        (3,800.00)
h.        (3,300.00) +      3,300.00 + = + + + - =
i.        (1,900.00) + + = + + + -        1,900.00 =        (1,900.00)
j. + + =        4,400.00 + + + -        4,400.00 =        (4,400.00)
Total $ (11,300.00) + $ 3,300.00 + $ (3,890.00) = $   2,100.00 + $                -   + $                -   + $                -   - $ 13,990.00 = $ (13,990.00)
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