Ruddy Lewis operates a bike repair shop operating under the

Ruddy Lewis operates a bike repair shop operating under the name R.L. Bike Repairs. The balances of his accounts on April 1 of the current year were as follows:

Cash $10,800

Supplies 1,200

Machines 6,400

Accounts Payable 6,000

Capital 12,400

The following transactions were incurred for the month of April:

1. Paid wages of $700 for 1st pay period in the month

2. Paid creditors on account $4,000

3. Purchased a new machine on account for $3,100

4. Received $7,200 cash from customers for bike repairs service

5. Paid courier service expense $280

6. Paid $850 cash for wages for the 2nd pay period in the month.

7. Ruddy Lewis withdrew $500 cash for personal use (“drawings”)

8. Paid creditors on account $1,200

9. Inventory of supplies at end of the month (April 30) was $550

10. Received $3,500 cash from customers for bike repairs service

You are required to record the transactions in the form provided, showing the balances on each account at the end of each transaction cycle. Transaction 1 has been completed for you.

URGENT: NEED ANSWER ASAP

PLEASE RESPOND WITH COPY AND PASTE, NOT ATTACHMENT USE ORIGINAL CONTENT NOT USED BEFORE ON CHEGG

PLEASE ANSWER THROUGHLY TO ALL ANSWER TO BEST ABILITES ORIGINAL SOURCE NEVER USED BEFORE!!!

Assets = Liabilities + Owners Equity Balance April 1 +CashSup plies Machines Account s Ruddy Payable Lewis, Capital Balance (April 1) $10,800 $1,200 6,400 $6,000 $12,400 Transaction Numbers 700 0 0 -700 Balance 10,100 1,200 6,400 6,000 11,700 Balance Balance 4 Balance Balance 6 Balance Balance Balance 9 Balance 10 Balance, April 30

Solution

Assets = Liability + Owner\'s Equity Cash + Supplies + Machines = Accounts payable + Ruddy Lewis - Capital Balance, April 1 10800 1200 6400 6000 12400 Transaction Numbers 1 -700 0 0 0 -700 Balance 10100 1200 6400 6000 11700 2 -4000 0 0 -4000 0 Balance 6100 1200 6400 2000 11700 3 0 0 3100 3100 0 Balance 6100 1200 9500 5100 11700 4 7200 0 0 0 7200 Balance 13300 1200 9500 5100 18900 5 -280 -280 Balance 13020 1200 9500 5100 18620 6 -850 0 0 0 -850 Balance 12170 1200 9500 5100 17770 7 -500 0 0 0 -500 Balance 11670 1200 9500 5100 17270 8 -1200 0 0 -1200 0 Balance 10470 1200 9500 3900 17270 9 0 -650 0 0 -650 Balance 10470 550 9500 3900 16620 10 3500 0 0 0 3500 Balance 13970 550 9500 3900 20120