tomers, and -n (6). amn heading Share Capital but not P1-48 Jessi Paulis started a consulting firm, Paulis Consulting, on May 1, 2014. The Analyse transactions and following transactions occurred during the month of May. prepare financial statements May 1 Paulis invested $8,000 cash in the business in exchange for shares. (LO 6,7,8) 2 Paid $800 for office rent for the month. 3 Purchased $500 of supplies on account. 5 Paid $50 to advertise in the County News. 9 Received $3,000 cash for services provided. 12 Declared and paid a $700 cash dividend. 15 Performed $3,300 of services on account. 17 Paid $2,100 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $2,000 for services provided on account on May 15. 26 Borrowed $5,000 from the bank on a note payable. 29 Purchased office equipment for $2,300 on account. 30 Paid $150 for utilities. ses, and D gs. income ord July 1, 2014 s Recenia re Capital Instructions (a) Show the effects of the previous transactions on the accounting equation using the la) Total assets $17,000 som toth imel part Talu P14A Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. The Analyse transactions following transactions occurred during the month of June. and prepare financial statements June | Shareholders invested $10,000 cash in the business in exchange for ordinary shares. (LO 6,7,8) 2 Purchased a used van for deliveries for $14,000. Matt paid $2,000 cash and signed a note payable for the remaining balance. 3 Paid $500 for office rent for the month. Performed $4.800 of services on account 9 Declared and paid $300 in cash dividends. 12 Purchased supplies for $150 on account 15 Received a cash payment of $1.250 for services provided on June 5. 17 Purchased gasoline for $100 on account. 20 Received a cash payment of $1,500 for services provided. som g column heading able, Share Capital Expenses, and a Earnings. Revenue e net income or tely dentical round sers have already bene ity that has resulted to in accounting standar e Veterinary Clint Equipment 56.00 ned Earnings 57 29 Paid for the gasoline purchased on account on June 17. 30 Paid $1,000 for employee salaries. Instructions (a) Show the effects of the previous transactions on the accounting equation using the ta) Total assets 525,800 following format Assets and the balance of Liabilities Notes Accounts Payable Share Capital Equity Retained Earnings Rev Exp Div. + + Date Cash- Accounts Receivable + Supplies + Equipment - Payable the balance is de he business. In C lowever, with so errors. One way se a worksheet Ne also will stud Pioneer Advertis itements of fina nse $200. your analysis. Include margin explanations for any changes in the Retained Earnings account in (b) Prepare an income statement for the month of June. le) Prepare a statement of financial position at June 30, 2014. b) Net Income 54,450 Id Cash $8,100 the financial state 2 Made a cash payment of $500 on the note payable. 26 Paid $250 for utilities