Question

Nona Curry started her own consulting firm, Sage Hill Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 Stockholders invested $17,325 cash in the business in exchange for common stock. 2 Paid $693 for office rent for the month. 3 Purchased $578 of supplies on account. 5 Paid $173 to advertise in the County News. 9 Received $1,617 cash for services performed. 12 Paid $231 cash dividend. 15 Performed $4,851 of services on account. 17 Paid $2,888 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1,386 for services performed on account on May 15. 26 Borrowed $5,775 from the bank on a note payable. 29 Purchased office equipment for $2,310 paying $231 in cash and the balance on account. 30 Paid $208 for utilities.

Answer 1

Answer

Date	Cash	Accounts receivables	Supplies	Equipment	Notes Payable	Accounts Payable	Common Stock	Revenues	Expenses	Dividends
01-May	$17,325						$17,325
02-May	($693)								$693		Rent Expense
03-May			$578			$578
05-May	($173)								$173		Advertising expense
09-May	$1,617							$1,617			Service revenue
12-May	($231)									$231
15-May		$4,851						$4,851			Service revenue
17-May	($2,888)								$2,888		Salaries expense
20-May	($578)					($578)
23-May	$1,386	($1,386)
26-May	$5,775				$5,775
29-May	($231)			$2,310		$2,079
30-May	($208)								$208		Utilities expense
	$21,101	$3,465	$578	$2,310	$5,775	$2,079	$17,325	$6,468	$3,962	$231