Question: Anna Taylor started a new business Taylor Gymnastics and completed

Anna Taylor started a new business, Taylor Gymnastics, and completed the following transactions during December:
Dec. 1 Anna contributed $ 30,000 cash in exchange for common stock.
2 Received $ 4,000 cash from customers for services performed.
5 Paid $ 100 cash for office supplies.
9 Performed services for a customer and billed the customer for services rendered, $ 3,000.
10 Received $ 200 bill for utilities due in two weeks.
15 Paid for advertising in the local paper, $ 125. 20 Paid utility bill received on Dec. 10.
25 Collected cash from customer billed on Dec. 9.
28 Paid rent for the month, $ 1,500.
28 Paid $ 1,050 to assistant for wages.
30 Received $ 2,800 cash from customers for services performed.
31 Cash dividends of $ 2,000 were paid to stockholders.
Analyze the effects of the transactions on the accounting equation of Taylor Gymnastics using a format similar to Exhibit 1- 5.


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  • CreatedJanuary 16, 2015
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