Jill Martin of Regina opened Martin’s Catering Service. As her accountant, analyze the transactions listed below and present in proper form:
1. The analysis of the transactions by utilizing the expanded accounting equation
2. A balance sheet showing the position of the firm before opening on November 1, 2022
3. An income statement for the month of November

4. A statement of owner’s equity for November
5. A balance sheet as of November 30, 2022

2022
Oct. 28 Jill Martin invested $8,000 in the catering business from her personal savings account.
29 Bought equipment for cash from Munroe Co., $900.
30 Bought additional equipment on account from Ryan Co., $1,800.
31 Paid $1,000 to Ryan Co. as partial payment of the October 30 transaction.

(You should now prepare your balance sheet as of October 31, 2022.)

Nov. 1 Catered a graduation and immediately collected cash, $2,900.
4 Paid salaries of employees, $720.
8 Prepared desserts for customers on account, $300.
11 Received $100 cash as partial payment of November 8 transaction.
15 Paid telephone bill, $75.
18 Jill paid her home electricity bill from the company’s bank account, $90.
19 Catered a wedding and received cash, $1,800.
25 Bought additional equipment on account, $400.
28 Rent expense due but not yet paid, $600.
29 Paid supplies expense, $400.