Question $10$ of $10$

$-122$

Current Attempt in Progress

Novak Corp. was started on May $1.$ A summary of May transactions is presented as follows.

Stockholders invested $$22,500$ cash in the business in exchange for common stock.

Purchased equipment for $$5\mathrm{.}500$ cash.

Paid $$600$ cash for May office rent.

Paid $$600$ cash for supplies.

Incurred $$200$ of advertising costs in the Beacon News on account.

Received $$5,100$ in cash from customers for repar service.

Declared and paid a $$1\mathrm{.}000$ cash dividend.

Paici part$-$time employee salaries $$800.$

Paid utility bills $$160.$

Performed repair services wor th $$990$ on acdount.

Gollected cash of $$120$ for services billed in transaction $(10).$

Preparea tabular analysis of the transactions. Revenue is called Service Revenue, $($If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign $($or parentheses$)$ in front of the amount entered for the particular Asset, Liability Equity item that was reduced. See Illustration $1-8$ for example.$)$