2. Total the left side of the acco the right side of the accounting equation (rig totals are not equal, check the addition and subtract error, re-analyze each transaction. ion. If you still c cannot find d. e. f. of this year, B. Gervais established Ge ice. The account headings are presented below. Transactions completed month follow Service. The account headings are presented below. Transactions completedat Owner\'s Equity ets Liabilities + Prepaid Catering Accounts surance + Truck + Equipment = Payable + Capital-Drawing + Revenue p% a. G ervais deposited $25,000 in a bank account in the name of the business ought a truck from Kelly Motors for $26,329, paying $8,000 in cash and the balance on account, Ck. No. 500. c. Bought d. P catering equipment on account from Luigi\'s Equipment, $3,795 aid the rent for the month, $1,255, Ck. No. 501. Bought insurance for the truck for one year, $400, Sold catering services for cash for the first half of the month, $3,012. e. Ck. No. 502.
Answer 1 & 2. S.no. Total Assets Assets = Liabilities + Owner\'s Equity Total Liabilities & Owners\' Equity Cash + Accounts Receivable + Supplies + Prepaid Insurance + Truck + Catering Equipment = Accounts Payable + Capital - Drawing + Revenue - Expenses a. 25,000.00 + - + - + - + - + - = - + 25,000.00 - - + - - - Balance 25,000.00 25,000.00 + - + - + - + - + - = - + 25,000.00 - - + - - - 25,000.00 b. (8,000.00) + - + - + - + 26,329.00 + - = 18,329.00 + - - - + - - - Balance 43,329.00 17,000.00 + - + - + - + 26,329.00 + - = 18,329.00 + 25,000.00 - - + - - - 43,329.00 c. - + - + - + - + - + 3,795.00 = 3,795.00 + - - - + - - - Balance 47,124.00 17,000.00 + - + - + - + 26,329.00 + 3,795.00 = 22,124.00 + 25,000.00 - - + - - - 47,124.00 d. (1,255.00) + - + - + - + - + - = - + - - - + - - 1,255.00 Balance 45,869.00 15,745.00 + - + - + - + 26,329.00 + 3,795.00 = 22,124.00 + 25,000.00 - - + - - 1,255.00 45,869.00 e. (400.00) + - + - + 400.00 + - + - = - + - - - + - - - Balance 45,869.00 15,345.00 + - + - + 400.00 + 26,329.00 + 3,795.00 = 22,124.00 + 25,000.00 - - + - - 1,255.00 45,869.00 f. 3,012.00 + - + - + - + - + - = - + - - - + 3,012.00 - - Balance 48,881.00 18,357.00 + - + - + 400.00 + 26,329.00 + 3,795.00 = 22,124.00 + 25,000.00 - - + 3,012.00 - 1,255.00 48,881.00 g. (185.00) + - + 185.00 + - + - + - = - + - - - + - - - Balance 48,881.00 18,172.00 + - + 185.00 + 400.00 + 26,329.00 + 3,795.00 = 22,124.00 + 25,000.00 - - + 3,012.00 - 1,255.00 48,881.00 h. - + 4,307.00 + - + - + - + - = - + - - - + 4,307.00 - - Balance 53,188.00 18,172.00 + 4,307.00 + 185.00 + 400.00 + 26,329.00 + 3,795.00 = 22,124.00 + 25,000.00 - - + 7,319.00 - 1,255.00 53,188.00 i. (248.00) + - + - + - + - + - = - + - - - + - - 248.00 Balance 52,940.00 17,924.00 + 4,307.00 + 185.00 + 400.00 + 26,329.00 + 3,795.00 = 22,124.00 + 25,000.00 - - + 7,319.00 - 1,503.00 52,940.00 j. - + - + - + - + - + - = 128.00 + - - - + - - 128.00 Balance 52,940.00 17,924.00 + 4,307.00 + 185.00 + 400.00 + 26,329.00 + 3,795.00 = 22,252.00 + 25,000.00 - - + 7,319.00 - 1,631.00 52,940.00 k. 2,649.00 + - + - + - + - + - = - + - - - + 2,649.00 - - Balance 55,589.00 20,573.00 + 4,307.00 + 185.00 + 400.00 + 26,329.00 + 3,795.00 = 22,252.00 + 25,000.00 - - + 9,968.00 - 1,631.00 55,589.00 l. (1,550.00) + - + - + - + - + - = - + - - 1,550.00 + - - - Balance 54,039.00 19,023.00 + 4,307.00 + 185.00 + 400.00 + 26,329.00 + 3,795.00 = 22,252.00 + 25,000.00 - 1,550.00 + 9,968.00 - 1,631.00 54,039.00 m. (1,150.00) + - + - + - + - + - = - + - - - + - - 1,150.00 Balance 52,889.00 17,873.00 + 4,307.00 + 185.00 + 400.00 + 26,329.00 + 3,795.00 = 22,252.00 + 25,000.00 - 1,550.00 + 9,968.00 - 2,781.00 52,889.00
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