Question

please answer i dont know how to do this

Saved 2. Line following information applies to the questions displayed below. Eli owns an insurance office, while Olivia operates a maintenance service that provides basic custodial duties. For the month of May, the following transactions occurred. Olivia decides that she will need insurance for a one-day special event at the end of the month and May pays Eli $230 in advance. May 5 Olivia provides maintenance services to Eli's insurance offices on account, $390. May 7 Eli borrows $430 from Olivia by signing a note. May 14 Olivia purchases maintenance supplies from Spot Corporation, paying cash of $165. May 19 Eli pays $390 to Olivia for maintenance services provided on May 5. May 25 Eli pays the utility bill for the month of May, $128. May 28 olivia receives insurance services from all equaling the amount paid on May 2. May 31 Eli pays $430 to Olivia for money borrowed on May 7. 2. Using the format shown below, enter the impact of each transaction on the accounting equation for each company. (Decreases account classifications should be entered as a negative.) ELI'S INSURANCE SERVICES OLIVIA'S MAINTENANCE SERVICES Assets • Liabilities + Stockholders' Equity - Llabilities - Stockholders' Equity May 2 $ $ 230 0$ $ (230) Assets 230 $ 0 $ 230 $ 0 5 7 14 19 25 28 31

Answer 1

2)
ELI'S INSURANCE SERVICES						OLIVIA'S MAINTENANCE SERVICES
	Assets	=	Liabilities	+	Stockholders' Equity	Assets	=	Liabilities	+	Stockholders' Equity
May. 2	$230	=	$230	+		$230	=		+
		=		+		($230)	=		+
May. 5		=	$390	+	($390)	$390	=		+	$390
May. 7	$430	=	$430	+		$430	=		+
		=		+		($430)	=		+
May. 14		=		+		$165	=		+
		=		+		($165)	=		+
May. 19	($390)	=	($390)	+		$390	=		+
		=		+		($390)	=		+
May. 25	($128)	=		+	($128)		=		+
May. 28		=	($230)	+	$230	($230)	=		+	($230)
May. 31	($430)	=	($430)	+		$430	=		+
		=		+		($430)	=		+