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Stephen Lewis started a sole proprietorship (business) called Bonavista Co. The following transactions occurred: a. Stephen Lewis, the owner of Bonavista Co., invested $60,000 cash
Stephen Lewis started a sole proprietorship (business) called Bonavista Co. The following transactions occurred: a. Stephen Lewis, the owner of Bonavista Co., invested $60,000 cash and office equipment worth $43,000 into the business. b. Bonavista Co. paid the monthly utilities bill of $800. c. Bonavista Co, provided $18,500 of consulting services for a customer who paid with cash. d. Bonavista Co purchased $2,200 of office supplies on credit. e. Bonavista Co performed $19,500 of consulting services for a customer who promised to pay within 30 days f. Bonavista Co paid the assistant's salary of $2,600 9 Bonavista Co. received a $11,000 partial payment for the services provided in (e). h. $3,000 was withdrawn from Bonavista Co by Stephen Lewis, the owner. Bonavista Co purchased a $98,000 building by using $10,000 cash from the business account and signing a note with the bank for the balance j Bonavista Co paid $1,300 towards the purchase in (d). 1 Required On the tabular analysis form provided, record the above transactions. Use additions and subtractions signs to show the transactions effects on the elements of the accounting equation. Do not use $ Show new totals after each transaction. Determine the final total for each item and verify that the equation is in balance AutoSave On Mod 1 data sheet 129_20 (1) - Protected View - File Home Insert Page Layout Formulas Data Review View Help 011 B C D E F G H 1 L M N O R S T W Y Assets Liabilities + Owner's Equity Stephen Accounts Office Office Accounts Notes Lewis, + Receivable + Supplies - Equipment + Building = Payable + Payable + Capital . Drawings Revenue Cash Expenses a b Bal C Ball d Bal e. Bal f. Bal. 9 Bal h Bal i Bal Bal Assets must equal Liablities + Owner's Equity Deduct 01 Q2 Q3 Type here to search o c
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