Question

Question 5 --/1 ew Policies urrent Attempt in Progress Oriole Company entered into these transactions during May 2022, its first month of operations. 1. Stockholders invested $43,000 in the business in exchange for common stock of the company. 2. Purchased computers for office use for $29,500 from Ladd on account. 3. Paid $4,300 cash for May rent on storage space. 4. Performed computer services worth $16,800 on account. 5. Performed computer services for Wharton Construction Company for $6,600 cash. 6. Paid Western States Power Co. $8,600 cash for energy usage in May, 7. Paid Ladd for the computers purchased in (2) 8. Incurred advertising expense for May of $2,300 on account. 9. Received $11,600 cash from customers for contracts billed in (4). Following tabular analysis show the effect of each transaction on the accounting, venues or expenses in the far right column. (If a

Answer 1

	Asset					=	Liabilities	+	Stockholders equity
										Ending Retained earning
	Cash	+	Accounts receivable	+	Office computer	=	Accounts payable	+	Common stock	Beginning balance	+	Revenue	-	Expense	-Dividend
1	43000								43000
2					29500		29500
3	-4300													4300
4			16800									16800
5	6600											6600
6	-8600													8600
7	-29500						-29500
8							2300							2300
9	11600		-11600
Balance	18800	+	5200	+	29500	=	2300	+	43000	0	+	23400	-	15200	-0