Question

2 3 9 Nona Curry started her own consulting firm, Splish Brothers Inc., on May 1, 2017. The following transactions occurred during the month of May May 1 Stockholders invested $22,350 cash in the business in exchange for common stock. Paid $894 for office rent for the month. Purchased $745 of supplies on account. 5 Paid $223 to advertise for the month in the County News. Received $2,086 cash for services performed. 12 Paid $298 cash dividend 15 Performed $6,258 of services on account. Paid $3,725 for employee salaries. Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1,788 for services performed on account on May 15. Borrowed $7,450 from the bank on a note payable. Purchased office equipment for $2,980 paying $298 in cash and the balance on account. 30 Paid $268 for utilities, 17 20 26 29

Answer 1

There is correction that needs to be done.

Under expenses on Stockholders’ Equity, the $745 should be $-745.  you will do the calculation and put the total underneath it. Apart from that, everything is good.

Answer 2

Under expenses on Stockholders’ Equity, the $745 should be empty

Answer 3

ASSETS LIABILITIES DATE, Supplies + CASH + account Receivable t equipment Notes + Account + ownes's of Revenue Р payable payable Capital 22350 MAYLA 22350 Mayo @ggu May 3 745 Mays 0223 Maya 2086 May 12 6 298 Mayis 6258 May 17 63725 May20 0745 0745 May 23 61788 1788 May 26 ②7450 7450 May29 298 2980 2689 2191 May 30 268 $ 2980 $7450 $ 2682 $22350 $2191 127223$ 4470 $

INCOME STATEMENT A INLOME Received for service Restormed 2086 Performed service 6258 7 Total 1$8344 B .894 745 EXPENSES office Rent Purchase Advertisement dividend paid Salaries utilities Expenses 298 3725 268 Total B (B) $ 6153 revenue (A-B) $ 2191 BALANCE SHEET LIABILITIE'S 2454) Capital Alc owner's capital (4) Bofit 22350 2191 B Non current liabilities Bank Borrowing current Liabiintie's creditions 7450 2688 Total 34673 $ ICS Scanned with CamScanner

ASSETS Non current Assets Equipment 2980 B current Assets Account Receivable 4470 Cash & Bank 27223 Total . 34 673 $ CS Scanned with CamScannes