Question

P1-41A (similar to) Question Help Camden Tinnemeyer started a new business, Tinnemeyer Gymnastics, and completed the following transactions during December (Click the icon to view the transactions.) Analyze the effects of the transactions on the accounting equation of Tinnemeyer Gymnastics. * More Info - X Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 1st. For each transaction that follows the transaction on th the necessary answer boxes for your transaction lines. [Do not enter any zeros for your transaction lines.] Carry down all balances to the "Bal." line, including parentheses. Abbreviations used: A/P = Accounts Payable; A/R = Accounts Receivable; Adv. = Advertising; Com. = Common; Contr. = Contributed; Div. = Divi Revenue; Util. = Utility.) pn. (Complete only Vith a minus sign or ev. = Service Dec Assets = Liab. + Equity Contr. Capital Retained Earnings Cash + A/R + Off. = A/P + Com. - Div. + Serv. - Rent - Util. - Sal. - Adv. Stock Rev. Exp. Exp. Exp. Exp. 12/1 D+D+=C+ CD+ CDD- CD 1 Received $17,000 cash from Camden in exchange for common stock. 2 Received $3,500 cash from customers for services performed. 5 Paid $200 cash for office supplies. 9 Performed services for a customer and billed the customer for services rendered, $2,400. 10 Received $240 invoice for utilities due in two weeks. 15 Paid for advertising in the local paper, $375. 20 Paid utility invoice received on December 10. 25 Collected cash in full from customer billed on December 9. 28 Paid rent for the month, $1,000. 28 Paid $1,350 to assistant for wages. 30 Received $1,200 cash from customers for services performed. 31 Cash dividends of $2,000 were paid to stockholders. Sup Print Done

Answer 1

	Assets					=	Liabilities	+	Equity
									Contr. Capital	Retained Earnings
	Cash	+	A/R	+	Office Supplies	=	A/P	+	Common Stock	-	Dividend	+	Serv. Rev.	-	Rent Exp.	-	Utl. Exp.	-	Sal. Exp.	-	Adv. Exp.
12/1	$17000	+		+		=		+	$17000	-		+		-		-		-		-
12/2	3500	+		+		=		+		-		+	3500	-		-		-		-
Bal.	20500	+		+		=		+	17000	-		+	3500	-		-		-		-
12/5	-200	+		+	200	=		+		-		+		-		-		-		-
Bal.	20300	+		+	200	=		+	17000	-		+	3500	-		-		-		-
12/9		+	2400	+		=		+		-		+	2400	-		-		-		-
Bal	20300	+	2400	+	200	=		+	17000	-		+	5900	-		-		-		-
12/10		+		+		=	240	+		-		+		-		-	240	-		-
Bal.	20300	+	2400	+	200	=	240	+	17000	-		+	5900	-		-	240	-		-
12/15	-375	+		+		=		+		-		+		-		-		-		-	375
Bal.	19925	+	2400	+	200	=	240	+	17000	-		+	5900	-		-	240	-		-	375
12/20	-240	+		+		=	-240	+		-		+		-		-		-		-
Bal.	19685	+	2400	+	200	=	0	+	17000	-		+	5900	-		-	240	-		-	375
12/25	2400	+	-2400	+		=		+		-		+		-		-		-		-
Bal.	22085	+	0	+	200	=	0	+	17000	-		+	5900	-		-	240	-		-	375
12/28	-1000	+		+		=		+		-		+		-	1000	-		-		-
Bal.	21085	+	0	+	200	=	0	+	17000	-		+	5900	-	1000	-	240	-		-	375
12/28	-1350	+		+		=		+		-		+		-		-		-	1350	-
Bal.	19735	+	0	+	200	=	0	+	17000	-		+	5900	-	1000	-	240	-	1350	-	375
12/30	1200	+		+		=		+		-		+	1200	-		-		-		-
Bal.	20935	+	0	+	200	=	0	+	17000	-		+	7100	-	1000	-	240	-	1350	-	375
12/31	-2000	+		+		=		+		-	2000	+		-		-		-		-
Bal.	$18935	+	$0	+	$200	=	$0	+	$17000	-	$2000	+	$7100	-	$1000	-	$240	-	$1350	-	$375