Homework Answers
May 1. Total assets was $ 25,000. The asset cash was increased.
May 1. Total assets was $ 9,000. The assets supplies was increased.
May 2. Total assets was - $4,000. The assets cash was decreased.
May 3. Total assets was $ 8,000. The assets cash increased by $ 2,000 and accounts receivable increased by $ 6,000.
SUMMARY:
For first transaction, cash is increased.
For second transaction, supplies is increased.
For third transaction, cash is decreased.
For forth transaction, cash and accounts receivable increased.
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