eBook Liabilities Accounts Payable Wages Expense Phone Expense Gas and Oil Expense The following transactions occurred during May: (a) Invested cash in the business, $25,000 (b) Purchased a used van for cash, $6,000. (c) Purchased equipment on account, $4,000. (d) Recelved cash for services rendered, $7.500. (e) Paid cash on account owed from transaction () $2,300. ( Paid rent for the month, $850. (g) Paid phone bill, $230. (h) Earned revenue on account, $4,500. (1) Purchased office supplies for cash, $160. (1) Paid wages to an assistant, $800. (k) Purchased a one-year Insurance policy, $1,100 (1) Received cash from services performed in transson (h), $3,400. (m) Paid cash for gas and oil expense on the van, $155. (n) Purchased additional equipment for $4,200, paying $1,500 cash and spreading the remaining payments over the next 10 months. (0) Earned service fees for the remainder of the month of $3,500: $1,900 in cash and $1,600 on account. (p) Withdrew cash at the end of the month, $2,900. Determine the following information. Use the format provided below. Check My Work Email Instructor Save and Exit All work saved eBook Calculator (m) Paid cash for gas and oil expense on the van, $155. (n) Purchased additional equipment for $4,200, paying $1,500 cash and spreading the remaining payments over the next 10 months. (0) Earned service fees for the remainder of the month of $3,500: $1,900 in cash and $1,600 on account. (p) Withdrew cash at the end of the month, $2,900. Determine the following information. Use the format provided below. 1. a. Total revenue for the month b. Total expenses for the month c. Net Income for the month 2. a. Wilhelm Kohl's original investment in the business + Net income for the month - Owner's drawing Increase (decrease) in capital Ending owner's equity b. End-of-month accounting equation: Assets = Liabilities + Owner Feedback Check My Work All work saved. Email Instructor Save and Exit