Grace P IT RESOURCES work rcise 1-1 rcise 1-2 ercise 1-5 ercise 1-8 ercise 1-10 ercise 1-11 1-4 CALCULATOR Problem 1-1A (Part Level Submission) PRI Cheyenne Corp. was started on May 1. A summary of May transactions is presented below. Stockholders invested $13,500 cash in the business in exchange for common stock. Purchased equipment for $4,500 cash. Paid $300 cash for May office rent. Paid $600 cash for supplies. Incurred $300 of advertising costs in the Beacon News on account. Received $5,600 in cash from customers for repair service. 1. 2. 3. 4. 5. 6. 1-5 1-6 e 1-7 7. Declared and paid a $1,000 cash dividend. Paid part-time employee salaries $900. 8. e 1-8 e 1-9 (Part Level ssion) m 1-1A (Part Submission 9. Paid utility bills $160. Performed repair services worth $910 on account. 10, Collected cash of $140 for services billed in transaction (10), 11 (a) Prepare a tabular analysis of the transactions. Revenue is called Service Revenue. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, pla (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Score Results by Study re Cheyenne Corp. Liabilities Accounts Stockholders' Equity Assets Accounts Retained Earnings Common + + Receivable + Supplies Equipment Payable + Stock Cash Dividends Expenses Revenues $ $ 2. 3. 4 5. MacBook Air