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please answer all the questions!! also please choose the right sentence for each question. thank you Nature of Transactions Kristoff Walker operates his own catering

please answer all the questions!! also please choose the right sentence for each question. thank you image text in transcribed
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Nature of Transactions Kristoff Walker operates his own catering service. Summary financial data for February are presented in equation form as follows. Each line designated by a number indicates equation. Each increase and decrease in owner's equity, except transaction (5), affects net income. Assets Liabilities + Owner's Equity Kristoff Walker, Capital - Kristoff Walker, Drawing + Fees Earned - Expenses 141,200 +49,100 -36,500 Cash + Supplies + Land - Accounts Payable + Bal. 42,000 5,500 105,000 11,300 1. +49,100 2. -21,000 +21,000 3. -36,500 +2,100 +2,100 5. -2,800 6. -10,100 -10,100 7. -4,200 Bal. 20,700 3,400 126,000 3,300 a. (1) Select the description for transaction 1. -2,800 -4,200 141,200 -2,800 49,100 -40,700 a. (2) Select the description for transaction 2 a. (3) Select the description for transaction 3. a. (4) Select the description for transaction 4. Nature of Transactions Kristoff Walker operates his own catering service. Summary financial data for February are presented in equation form as follows. Each line designated by a number indicates the effect of a transaction on the equation. Each increase and decrease in owner's equity, except transaction (5), affects net income. Assets = Liabilities + Owner's Equi Cash + Supplies + Land - Accounts Payable + Kristoff Walker, Capital - Kristoff Walker, Dr Bal. 42,000 5,500 105,000 11,300 141,200 1. +49,100 2. -21.000 +21,000 3. -36,500 -2,100 +2,100 5. -2,800 -2.800 6. -10,100 -10,100 -4,200 Bal. 20,700 3,400 126,000 3,300 141,200 -2,800 a. (1) Select the description for transaction 1. a. (2) Select the description for transaction 2. a. (3) Select the description for transaction 3. a. (4) Select the description for transaction 4. a. (5) Select the description for transaction 5. a. (6) Select the description for transaction 6. a. (7) Select the description for transaction 7. b. What is the amount of the net decrease in cash during the month? c. What is the amount of the net increase in owner's equity during the month? d. What is the amount of the net income for the month? e. How much of the net income for the month was retained in the business? b. -1U,IUU -10, IUU -4,200 Bal. 20,700 3,400 126,000 3,300 a. (1) Select the description for transaction 1. Recognition of cost of supplies used. fansaction 2. Withdrawal of cash by owner. Purchase of supplies on account. ansaction 3. Purchase of land for cash. Payment of cash to creditors. ansaction 4. Payment of cash for expenses. Provided catering services for cash. a. (5) Select the description for transaction 5. a (6) Select the descrintion for transaction 6

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