WileyPLUS edugen.wileyplus.com/edugen/student/mainfr.uni el, Survey of Accountin

Question

WileyPLUS edugen.wileyplus.com/edugen/student/mainfr.uni el, Survey of Accounting, 1e CALCULATOR Nona Curry started her own consulting frm, Teal Mountain Inc., on May 1, 2017. The following transactions occurred during the mon May 1 Stockholders invested $21,075 cash in the business in exchange for common stock. 2 Paid $843 for office rent for the month. 3 Purchased $702 of supplies on account 5 Paid $211 to advertise for the month in the County News 9 Received $1,967 cash for services performed 12 Paid $281 cash dividend. 15 Performed $5,901 of services on account. 17 Paid $3,512 for employee salaries. 20 Paid for 23 Received a cash payment of $1,686 for services performed on account 26 Borrowed $7,025 from the bank 29 Purchased office equipment for $2,810 30 Paid $253 for utilities the supplies purchased on account on May 3. on May 15. on a note payable. paying $281 in cash and the balance on account. 2 Your answer is partially cor Show the effects of the above tr on the account g the following format. Assume the Equity ) in front of the amount entered for th TEA Type here to

Explanation / Answer

The total for Cash column is totaled incorrectly ...it is $25670

Retained Earnings :

Net Income added will show $3049 - dividends 281 = 2768

you have shown $3049 as negative figure which is incorrect

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