Exercise 2

Ali opened an auditing offices, the balance sheet on May 1,2006 showed cash $10000, accounts receivable $2000, supplies $1000, equipment $2000, account Payable $4000; All capital $11000. During the month of May the following 1. Paid $2500 cash for office rent (expexhsg) Transactions occurred: 2. Receive cash fees. 3. Collect receivables $1500. 4. withdraw $500 for personal use 5. Paid $3000 on accounts payable. a) Prepare a tabular analysis of the month of May transaction beginning with May 1 balance sheet, 6. Purchase a computer $1500 on credit