eBook Jay Pembroke started a business. During the first month (April 20-), the following transactions occurred. a. Invested cash in business, $19,000. b. Bought office supplies for $4,700: $1,900 in cash and $2,800 on account. c. Paid one-year insurance premium, $1,400. d. Earned revenues totaling $3,100: $1,300 in cash and $1,800 on account. e. Paid cash on account to the company that supplied the office supplies in transaction (b), $2,500. f. Paid office rent for the month, $650. g. Withdrew cash for personal use, $100. The effect of each transaction is shown in the individual accounts of the expanded accounting equation. a. 19,000 (1,900) (1,400) 1,300 (2,500) (650) g. (100) Bal. 13,750+ b. C. e. Cash + f. Danniead Check My Work Assets (Items Owned) Accounts Receivable 1,800 1,800 Office Supplies 4,700 4,700 + Prepaid Insurance 1,400 1,400 Liabilities (Amts. Owed) Accounts Payable 2,800 (2,500) 300 (Owner's Investment) J. Pembroke, Capital 19,000 Owner's Equity 19,000 J. Pembroke, Drawing 100 100 (Earnings) + Revenues - Expenses 3,100 3,100 650 650 Description Service fees Rent expense Previous Next >

Iar Fersbroke starte-1 a business. Duing the fint menth (Apnt 20 ), the following transactions occurred. a. firvested cash in businets, $19,000. b. Booght cence supplies for $4,700:11,000 in cash and 52,500 on account. c. Daid one-year insurance prernim. $1,400 d. Earned revenues totaling $3,10031,300 in cash and 51,500 on account. 6. Paid cash on account to the compamr that supolied ife offlice supplies in transaction (b),$2,500. f. Paid office zact for the imonth, 5650 g. Whatew rash for pendocal use, $100 Use the accounting equation to prepare an income statement for Jay Pembroke for the month of April 20