Question:
The following transactions are July 2014 activities of Craigs Bowling, Inc., which operates several bowling centers (for games and equipment sales). For each of the following transactions, complete the tabulation, indicating the amount and effect (+ for increase and - for decrease) of each transaction. (Remember that A = L + SE, R - E = NI, and NI affects SE through Retained Earnings.) Write NE if there is no effect. The first transaction is provided as anexample.
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BALANCE SHEET INCOME STATEMENT ties Equityenue Expe RevsExpenses Income Assets Llabilities e. Craig's sold bowling merchandise-6,800 NE -6,800 NE +6,800 -6,800 costing $6,800. IThe sale related to the use of this merchandise is in M3-3b.] f Craig's paid S800 on the electricity bill for June (recorded as expense in Iune) g. Craig's paid S3,500 to employees for work in July h. Craig's purchased $1,500 in insur ance for coverage from July 1 to October 1 .Craig's paid S700 to plumbers for repairing a broken pipe in the j. Craig's received the July electricity hill for $900 to be paid in August.