Question: hello, this is a 2 part answer (a,b) and i need your help with. thank you in advance Jennifer Davis started her own consulting firm,




Jennifer Davis started her own consulting firm, Jennifer Consulting, on May 1, 2022. The following transactions occurred during the month of May May 1 2 3 5 9 12 Jennifer invested $8.000 cash in the business. Paid $950 for officerent for the month. Purchased $500 of supplies on account Paid $140 to advertise in the County News Received $3,800 cash for services performed Withdrew $1,100 cash for personal use. Performed $5,800 of services on account. Paid $2,500 for employee salaries. Made a partial payment of $300 for the supplies purchased on account on May 3 Received a cash payment of $3,700 for services performed on account on May 15. Borrowed $4,600 from the bank on a note payable. Purchased equipment for $4,300 on account. 15 17 20 23 26 a 29 30 Paid $250 for utilities (a) Your answer is partially correct Show the effects of the previous transactions on the accounting equation. (ta transaction results in a decrease in Assets Llabilities or Owners Egly place a negative sign for parentheses) In front of the amount entered for the particular Asset, tablity or Equity item that was reduced See ilustration 1-8 for example) Assets Date Cash Accounts Recevable Supplies 1 $ 5 $ $ 2 3 5 9 12 15 17 -2500 20 23 26 29 30 200 $ $ $ (a) Your answer is partially correct Show the effects of the previous transactions on the accounting equation. (Ya transaction results in a decrease in Assets Labirles ar Owners Equity place a negative sign for parentheses) In front of the amount entered for the particular Asset, ability or Equity item that was reduced See ilustration 1-8 for example) JENNIFER CONSULTING Llabildes Notes Payable Accounts Payable Equipment $ $ 0 1 5 4300 300 5 $ 100 S 000 la) Your answer is partially correct Show the effects of the previous transactions on the accounting equation.(Ya transaction results in a decrease in Assets Llableles or Owners Eouley, place a negative sign for parentheses) In front of the amount entered for the particular Asset, Labuty or Equdry stem that was reduced. See Mlustration 1-for example) Owner's Equity Owner's Capital Owner's Drawings Revenus Expenses 5 5 $ $ 1 5 5 5 $ Prepare an income statement for the month of May, JENNIFER CONSULTING Income Statement $
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