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Karen White started her own consulting firm, White Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May
Karen White started her own consulting firm, White Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 Stockholders invested $15,600 cash in the business in exchange for common stock. 2 Paid $624 for office rent for the month. 3 Purchased $520 of supplies on account. 5 Paid $156 to advertise for the month in the County News. 9 Performed services for customer for $1,456 cash. 12 Paid $208 cash dividend. 15 Performed $4,368 of services on account. 17 Paid $2,600 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1.248 for services performed on account on May 15, 26 29 30 Borrowed $5,200 from the bank on a note payable. Purchased office equipment for $2.080 paying $208 in cash and the balance on account. Paid $192 for utilities. Prepare a classified balance sheet at May 31, 2022. (List Current Assets in order of liquidity.) WHITE CONSULTING INC. Balance Sheet Assets $ Liabilities and Stockholders' Equity $
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