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The following transactions occurred during May: ( a ) Invested cash in the business, $ 2 4 , 9 7 3 . ( b )
The following transactions occurred during May:
a Invested cash in the business, $
b Purchased a used van for cash, $
c Purchased equipment on account, $
d Received cash for services rendered, $
e Paid cash on account owed from transaction c $
f Paid rent for the month, $
g Paid telephone bill, $
h Earned revenue on account, $
i Purchased office supplies for cash, $
j Paid wages to an assistant, $
k Purchased a oneyear insurance policy, $
I Received cash from services performed in transaction h
m Paid cash for gas and oil expense on the van, $
n Purchased additional equipment for paying $ cash and spreading the remaining payments over the next mont
o Earned service fees for the remainder of the month of $ in cash and $ on account.
p Withdrew cash at the end of the month, $
Determine the following information. Use the format provided belowi
a Total revenue for the month
b Total expenses for the month
c Net income for the month
a Wilhelm Kohl's original investment in the business
Net income for the month
Owner's drawing
Increase decrease in capital
Ending owner's equity
b Endofmonth accounting equation:
Assets Liabilities Owner's Equity
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