Transaction Assets |1 2 3 4 5 6 7 8 9 10 11 Total Cash Accounts Receivable 11000 +- (4,000) +- (400) +- (500) +- (350) +- 4200 (1,400) +- (1,000) +- (140) +- |- +- +880 130 +(130) 7540 +750 + Supplies + Equipments = T +- +- + 500 |+|- |+|- |+|- +- +- +- +- +500 Explanation Assets = Liabilities + Stockholders Equity +4000 +- +- +- +- +- +- +- +- |+|- +4000 Common Common Stock Stock Revenue + EI # 11000 11000 Retained Earnings +Revenue-Expenses- +- +- +- |+|- |+|- +4200 + |+|- +- +- +880 +- +5080 400 -- 350 -- ▬▬ 1000 140 -- Liabilities Equity 1890 Dividends 1400 1400
Transaction Assets |1 2 3 4 5 6 7 8 9 10 11 Total Cash Accounts Receivable 11000 +- (4,000) +- (400) +- (500) +- (350) +- 4200 (1,400) +- (1,000) +- (140) +- |- +- +880 130 +(130) 7540 +750 + Supplies + Equipments = T +- +- + 500 |+|- |+|- |+|- +- +- +- +- +500 Explanation Assets = Liabilities + Stockholders Equity +4000 +- +- +- +- +- +- +- +- |+|- +4000 Common Common Stock Stock Revenue + EI # 11000 11000 Retained Earnings +Revenue-Expenses- +- +- +- |+|- |+|- +4200 + |+|- +- +- +880 +- +5080 400 -- 350 -- ▬▬ 1000 140 -- Liabilities Equity 1890 Dividends 1400 1400
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
complete the rest of the empty boxes, i still need help

Transcribed Image Text:Tamarisk, Inc. was started on May 1. A summary of May transactions is presented as follows.
1. Stockholders invested $11,000 cash in the business in exchange for common stock.
Purchased equipment for $4,000 cash.
Paid $400 cash for May office rent.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
Paid $500 cash for supplies.
Incurred $350 of advertising costs in the Beacon News on account.
Received $4,200 in cash from customers for repair service.
Declared and paid a $1,400 cash dividend.
Paid part-time employee salaries $1,000.
Paid utility bills $140.
Performed repair services worth $880 on account.
Collected cash of $130 for services billed in transaction (10).

Transcribed Image Text:Transaction Assets
|1
2
3
4
5
6
7
8
9
10
11
Total
Cash
Accounts
Receivable
11000 +-
(4,000) +-
(400) +-
(500) +-
(350)
4200
+-
|+|-
(1,400) +-
(1,000) +-
(140) +-
+880
+ (130)
130
7540 +750
+ Supplies + Equipments =
+-
+-
+-
+500
|+|-
+-
|+|-
+-
+-
+-
+-
+ 500
Explanation
Assets = Liabilities + Stockholders Equity
+ 4000
+-
+-
+-
+-
|+|-
|+|-
|+|-
|+|-
+-
+ 4000
Common Common
Stock
Stock
Revenue +
・・・▪▪▪▪▪▪▪»»
E-
EI
11000
11000
Retained Earnings
+ Revenue - Expenses-
+-
|+-
+-
+-
+-
+4200
+-
+-
|+|-
+880
+-
+5080
-400
--
350
--
▬▬
1000
140
--
Liabilities
1890
I
I
Stockholders
Equity
Dividends
1400
1400
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