P1-1A, p.

38
NAME: Simon Roig
CLASS: 1303-002

1. Prepare a tabluar analysis of the transactions listed in the textbook.

ASSETS LIABILITIES STOCKHOLDERS' EQUITY
Nancy
Accounts Accounts Barone,
Cash Receivable Supplies Equipment Payable Capital Explanation
1 10,000 10,000 Investment
2 5,000 - Equip expense
bal 10,000 - - 5,000 - 10,000 - BALANCE
3 (400) (400) Rent expense
bal 9,600 - - 5,000 - 9,600 - BALANCE
4 500 500 supplies expense
bal 9,600 - 500 5,000 - 10,100 - BALANCE
5 250 250 adverstising revenue
bal 9,850 - 500 5,000 250 10,100 - BALANCE
6 5,100 5,100 service revenue
bal 14,950 - 500 5,000 250 15,200 - BALANCE
7 (1,000) (1,000) drawing
bal 13,950 - 500 5,000 250 14,200 - BALANCE
8 (2,000) (2,000) salaries expense
bal 11,950 - 500 5,000 250 12,200 - BALANCE
9 (140) (140) utilities expense
bal 11,810 - 500 5,000 250 12,060 - BALANCE
10 750 750 service revenue
bal 11,810 750 500 5,000 250 12,810 - BALANCE

b. From an analysis of the column Jenny Russo, Capital, compute the net income or net loss for May. Make
sure to show how you computed net income or net loss.

12610+750+500+5000