28 ovi... Gajay devgan movi... Gajay devgan movi... Pana interest or on the bank oun signed on February 3. Instructions a) for each of the above transactions, prepare a (1) basic analysis, (2) equation analysis, and (3) debit-credit analysis. b) Journalize the transactions. Your answer 4 points On May 1, Marty's Repair Shop Ltd. began operations. The following transactions were completed during the month 1. Issued common shares for $8,000 cash. 2. Paid $1.250 for May office rent. 3. Purchased equipment for $16,000, paying $4,000 cash and signing a bank loan payable for the balance. 4. Purchased supplies on account, $700. 5. Received $4.200 from customers for repair services provided. 6. Paid for supplies purchased in the section 4. 7. Paid May telephone bill of $200 8. Provided repair services on account to customers, $3,600 9. Paid employee salaries, $2,000. 10. Received $700 in advance for repair services to be provided next month. II. Collected $1,600 from customers for services billed in transaction 8 12. Declared and paid $500 of dividends to shareholders. 13. Paid S80 of interest on the bank loan obtained in transaction 3 14. Pald income tax of $600. Instructions (a) Prepare an equation analysis of the effects of the above transactions on the expanded accounting equation (b) Calculate total assets, liabilities, and shareholders' equity at the end of the month and net income for the month. Your answer Submit Page 1 of 1 Never submit passwords through Google Forms This form was created inside of Pures College. Report Abuse Google Forms