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I. Prepare a tabular analysis of the transactions below. 1. Stockholders invested $150,000 in the business 2. Provided services totaling $8,500. Received $4000 and the
I. Prepare a tabular analysis of the transactions below. 1. Stockholders invested $150,000 in the business 2. Provided services totaling $8,500. Received $4000 and the remainder is on account 3. Purchased $1,500 of supplies. Paid 50% and the remainder is on account 4. Purchased office equipment costing $20,000; Paid $5,000 and signed a 1-year note for the remainder s. Incurred utilities, $2,500 6. Received cash for services provided, $3,500 7. Paid cash for supplies, $450 8. Received cash for services provided, $3,000 9. Paid cash for repairs, $1,800 10. Received cash, $10,000, from XYZ Bank - money borrowed on a note payable 11. Paid an amount owed to a creditor, $500 12. Received $1,000 from customers who were previously billed 13. Incurred $1,200 in advertising costs on account 14. Paid cash for rent, $5,000 15. Provided services on account, $6,000 II. Use your tabular analysis to answer the questions below: a. How much are total assets? b. How much are total liabilities? c. c. How much is total equity? a. Is the accounting equation in balance
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