Current Attempt in Progress Cullumber Company entered into these transactions during May 2027, its first month of operations. 1. 2. 3. 4. 5. 6. 7. 8. 9. Stockholders invested $39,500 in the business in exchange for common stock of the company. Purchased computers for office use for $29,500 from Ladd on account. Paid $5,400 cash for May rent on storage space. Performed computer services worth $20,900 on account. Performed computer services for Wharton Construction Company for $5,600 cash. Paid Western States Power Co. $7,200 cash for energy usage in May. Paid Ladd for the computers purchased in (2). Incurred advertising expense for May of $1.200 on account. Received $12,100 cash from customers for contracts billed in (4).
Current Attempt in Progress Cullumber Company entered into these transactions during May 2027, its first month of operations. 1. 2. 3. 4. 5. 6. 7. 8. 9. Stockholders invested $39,500 in the business in exchange for common stock of the company. Purchased computers for office use for $29,500 from Ladd on account. Paid $5,400 cash for May rent on storage space. Performed computer services worth $20,900 on account. Performed computer services for Wharton Construction Company for $5,600 cash. Paid Western States Power Co. $7,200 cash for energy usage in May. Paid Ladd for the computers purchased in (2). Incurred advertising expense for May of $1.200 on account. Received $12,100 cash from customers for contracts billed in (4).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Current Attempt in Progress
Cullumber Company entered into these transactions during May 2027, its first month of operations.
1.
2.
3.
4.
5.
6.
7.
8.
9.
Stockholders invested $39,500 in the business in exchange for common stock of the company.
Purchased computers for office use for $29,500 from Ladd on account.
Paid $5,400 cash for May rent on storage space.
Performed computer services worth $20,900 on account.
Performed computer services for Wharton Construction Company for $5,600 cash.
Paid Western States Power Co. $7,200 cash for energy usage in May.
Paid Ladd for the computers purchased in (2).
Incurred advertising expense for May of $1.200 on account.
Received $12,100 cash from customers for contracts billed in (4).
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Select accounts for changes to
revenues or expenses. (Select "Not Applicable" if nothing changes to revenues or expenses.) (Enter negative amounts using either a
negative sign preceding the number eg.-45 or parentheses e.g. (45).)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb9c31f8f-5fa1-4391-b22b-948e453c2c73%2F8693e0cd-7b9e-4613-8ae4-bebe52d61860%2Fies5q9o_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Current Attempt in Progress
Cullumber Company entered into these transactions during May 2027, its first month of operations.
1.
2.
3.
4.
5.
6.
7.
8.
9.
Stockholders invested $39,500 in the business in exchange for common stock of the company.
Purchased computers for office use for $29,500 from Ladd on account.
Paid $5,400 cash for May rent on storage space.
Performed computer services worth $20,900 on account.
Performed computer services for Wharton Construction Company for $5,600 cash.
Paid Western States Power Co. $7,200 cash for energy usage in May.
Paid Ladd for the computers purchased in (2).
Incurred advertising expense for May of $1.200 on account.
Received $12,100 cash from customers for contracts billed in (4).
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Select accounts for changes to
revenues or expenses. (Select "Not Applicable" if nothing changes to revenues or expenses.) (Enter negative amounts using either a
negative sign preceding the number eg.-45 or parentheses e.g. (45).)
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