Accounting Transactions for the Month of May:

Trans No.	Trans Date	Description	Activity type
1	May 1	I invested $30,000 cash into my new business	F
2	May 3	Received $3,500 cash from sales of food and beverages	O
3	May 5	Paid $1,200 cash for rent expenses	O
4	May 7	Purchased kitchen equipment for $5,000 on credit	I
5	May 12	Purchased additional inventory for $2,500 on credit	I
6	May 13	Received a loan of $10,000 from a family member	F
7	May 17	Purchased raw material for 1300	O
8	May 20	Repaid $2,000 of the loan received from the family member	F
9	May 21	Purchased additional furniture for $2,000 on credit	I
10	May 23	Paid $800 cash for utilities	O
11	May 24	Received $2,000 cash from a catering event	O
12	May 25	Incurred advertising expenses of $500 paid by credit card	O
13	May30	Received cash from new investor john	F

As an employee of Kontur and Associates you have been asked to compile the information requested by the client. Based on the information provided in the email complete the following information for Ms. Konturs review using the excel template provided.

1. Enter the journal entries to record all of the business activity for the month of May.
2. Compile a trial balance from the journal entries.
3. Prepare the income statement, statement of changes in equity and balance sheet for your client.
4. Prepare an email to Ms. Kontur to submit with the file. Discuss the following:
   • As you are very ambitious and want to demonstrate your analytical skills, provide your insight on the financial performance of your clients first month of business.

answer this