Stephanie Martinez opened a Latin Fusion restaurant downtown in a large southern city. She has asked you, her accountant, to complete The Accounting Formulas for some of her first month’s transactions. Complete the following Accounting Formulas.

(Spreadsheet hint: If you need to record two transactions in one cell, use Alt Enter after the first number to return to the next line within the same cell.)

a. The restaurant started with a $1,200,000 check from its owner, Stephanie.

Assets = Liabilities + Owners’ Equity Revenue — Expenses

b. The restaurant generated revenues of $5,000 on accounts receivable.

Assets = Liabilities + Owners’ Equity Revenue — Expenses

c. Stephanie purchased a $400,000 building with $40,000 cash and a $360,000 mortgage.

Assets = Liabilities + Owners’ Equity Revenue — Expenses

d. Stephanie paid $550 cash for the utilities bill.

Assets = Liabilities + Owners’ Equity Revenue — Expenses