Maurice Tutor

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About Maurice Tutor

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Expertise:
Algebra,Applied Sciences See all
Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 2 Days Ago
Questions Answered: 66690
Tutorials Posted: 66688

Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 24 Sep 2017 My Price 10.00

Michelle Rodriguez

Michelle Rodriguez started her own consulting firm, Rodriguez Consulting, on May 1, 2010.The following transactions occurred during the month of May.

May 1 Michelle invested $7,000 cash in the business.

2 Paid $900 for office rent for the month.

3 Purchased $600 of supplies on account.

5 Paid $125 to advertise in the County News.

9 Received $4,000 cash for services provided.

12 Withdrew $1,000 cash for personal use.

15 Performed $6,400 of services on account.

17 Paid $2,500 for employee salaries.

20 Paid for the supplies purchased on account on May 3.

23 Received a cash payment of $4,000 for services provided on account on May 15.

26 Borrowed $5,000 from the bank on a note payable.

29 Purchased office equipment for $3,100 on account.

30 Paid $175 for utilities.

Instructions

(a) Show the effects of the previous transactions on the accounting equation using the following

     

Assets

  

Liabilities

    

OWNER'

Equity

  

Data Cash

+Accounts Receivable+

Supply’s+

Office equipment=

Notes Payable

+Account payable

+Rodriguez

+Capital

-M. Rodriguez,-Drawing

+Revenues

-

Expenses

(b) Prepare an income statement for the month of May.

(c) Prepare a balance sheet at May 31, 2010.

Answers

Maurice Tutor
(5)
Status NEW Posted 24 Sep 2017 11:09 PM My Price 10.00

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