(I need answer typed please) Transaction Analysis and Trial Balance Walsh Company, Electrical Contractors began operations on May 1 The following transactions occurred during the month of May May 1 Stockholders invested $50,800 in the business in exchange for common stock 2 Purchased equipment on account, $5,000 3 Returned $1,000 of equipment that was not satisfactory The return reduced the amount owed to the supplier 4 Purchased supplies on account, $1,660 5 Purchased a truck for $11,300 Walsh paid $6,300 cash and gave a note payable for the balance 6 Paid rent for May, $2,475 7 Paid fuel cost for truck, $1,660 8 Billed customers for services rendered, $15,300 9 Paid $4,600 on account for the equipment purchased on May 2 10 Paid utilities for May, $1,810 11 Received invoice for May advertising, to be paid in June, $1,880 12 Paid employees' wages, $4,950 13 Collected $10,200 on accounts receivable 14 Walsh paid stockholders a dividend of $2,300 cash 15 Paid interest for May on an outstanding note payable, $160 Required a Create journal entries and record the above transactions in T accounts, and key entries with the numbers of the transactions The following accounts will be needed to record the transactions for May Cash Accounts Receivable Supplies Equipment Truck Accounts Payable Notes Payable Common Stock Dividends Service Revenue Rent Expense Wages Expense Utilities Expense Truck Expense Advertising Expense and Interest Expense General Journal Date Description Debit Credit (1) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record issuance of common stock (2) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record purchase of equipment on account (3) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record return of equipment on account (4) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record supplies purchased on account (5) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer Cash Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record purchase of truck (6) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record payment for rent (7) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record fuel expense for truck (8) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record billings for service revenue (9) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record payment of equipment purchased (10) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record payment of utilities expense (11) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record invoice for advertising (12) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record payment of salaries (13) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record cash collected form customers (14) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record payment of dividends (15) AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense Answer Answer To record payment of interest expense Cash (1) Answer Answer (5) Answer Answer (6) Answer Answer (7) Answer Answer (9) Answer Answer (10) Answer Answer (12) Answer Answer (13) Answer Answer (14) Answer Answer (15) Answer Answer Bal Answer Answer Accounts Receivable (8) Answer Answer (13) Answer Answer Bal Answer Answer Truck (5) Answer Answer Bal Answer Answer Notes Payable (5) Answer Answer Bal Answer Answer Accounts Payable (2) Answer Answer (3) Answer Answer (4) Answer Answer (9) Answer Answer (11) Answer Answer Bal Answer Answer Common Stock (1) Answer Answer Bal Answer Answer Interest Expense (15) Answer Answer Bal Answer Answer Service Revenue (8) Answer Answer Bal Answer Answer Rent Expense (6) Answer Answer Bal Answer Answer Wage Expense (12) Answer Answer Bal Answer Answer Truck Expense (7) Answer Answer Bal Answer Answer Advertising Expense (11) Answer Answer Bal Answer Answer Utilities Expense (10) Answer Answer Bal Answer Answer Supplies (4) Answer Answer Bal Answer Answer Dividends (14) Answer Answer Bal Answer Answer Equipment (2) Answer Answer (3) Answer Answer Bal Answer Answer b Prepare a trial balance as of May 31 WALSH COMPANY, ELECTRICAL CONTRACTOR Trial Balance May 31 Debit Credit Cash $Answer $Answer Accounts Receivable Answer Answer Supplies Answer Answer Equipment Answer Answer Truck Answer Answer Accounts Payable Answer Answer Notes Payable Answer Answer Common Stock Answer Answer Dividends Answer Answer Service Revenue Answer Answer Rent Expense Answer Answer Utilities Expense Answer Answer Truck Expense Answer Answer Advertising Expense Answer Answer Interest Expense Answer Answer Wages Expense Answer Answer Totals $Answer $Answer

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Question: (I need answer typed please) Transaction Analysis and Trial Balance Walsh & Company, Electrical Contractors began operations on May 1. The following transactions occurred during

(I need answer typed please)

Transaction Analysis and Trial Balance

Walsh & Company, Electrical Contractors began operations on May 1. The following transactions occurred during the month of May:

May	1	Stockholders invested $50,800 in the business in exchange for common stock.
	2	Purchased equipment on account, $5,000.
	3	Returned $1,000 of equipment that was not satisfactory. The return reduced the amount owed to the supplier.
	4	Purchased supplies on account, $1,660.
	5	Purchased a truck for $11,300. Walsh paid $6,300 cash and gave a note payable for the balance.
	6	Paid rent for May, $2,475.
	7	Paid fuel cost for truck, $1,660.
	8	Billed customers for services rendered, $15,300.
	9	Paid $4,600 on account for the equipment purchased on May 2.
	10	Paid utilities for May, $1,810.
	11	Received invoice for May advertising, to be paid in June, $1,880.
	12	Paid employees' wages, $4,950.
	13	Collected $10,200 on accounts receivable.
	14	Walsh paid stockholders a dividend of $2,300 cash.
	15	Paid interest for May on an outstanding note payable, $160.

Required

a. Create journal entries and record the above transactions in T-accounts, and key entries with the numbers of the transactions. The following accounts will be needed to record the transactions for May: Cash; Accounts Receivable; Supplies; Equipment; Truck; Accounts Payable; Notes Payable; Common Stock; Dividends; Service Revenue; Rent Expense; Wages Expense; Utilities Expense; Truck Expense; Advertising Expense; and Interest Expense.

General Journal
Date	Description	Debit	Credit
(1)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record issuance of common stock.

(2)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record purchase of equipment on account.

(3)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record return of equipment on account.

(4)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record supplies purchased on account.

(5)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	Cash	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record purchase of truck.

(6)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record payment for rent.

(7)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record fuel expense for truck.

(8)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record billings for service revenue.

(9)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record payment of equipment purchased.

(10)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record payment of utilities expense.

(11)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record invoice for advertising.

(12)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record payment of salaries.

(13)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record cash collected form customers.

(14)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record payment of dividends.

(15)	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	AnswerAccounts PayableAccounts ReceivableAdvertising ExpenseCashCommon StockDividendsEquipmentInterest ExpenseNotes PayableRent ExpenseService RevenueSuppliesTruckTruck ExpenseUtilities ExpenseWages Expense	Answer	Answer
	To record payment of interest expense.

Cash
(1)	Answer	Answer
(5)	Answer	Answer
(6)	Answer	Answer
(7)	Answer	Answer
(9)	Answer	Answer
(10)	Answer	Answer
(12)	Answer	Answer
(13)	Answer	Answer
(14)	Answer	Answer
(15)	Answer	Answer
Bal	Answer	Answer

Accounts Receivable
(8)	Answer	Answer
(13)	Answer	Answer
Bal	Answer	Answer

Truck
(5)	Answer	Answer
Bal	Answer	Answer

Notes Payable
(5)	Answer	Answer
Bal	Answer	Answer

Accounts Payable
(2)	Answer	Answer
(3)	Answer	Answer
(4)	Answer	Answer
(9)	Answer	Answer
(11)	Answer	Answer
Bal	Answer	Answer

Common Stock
(1)	Answer	Answer
Bal	Answer	Answer

Interest Expense
(15)	Answer	Answer
Bal	Answer	Answer

Service Revenue
(8)	Answer	Answer
Bal	Answer	Answer

Rent Expense
(6)	Answer	Answer
Bal	Answer	Answer

Wage Expense
(12)	Answer	Answer
Bal	Answer	Answer

Truck Expense
(7)	Answer	Answer
Bal	Answer	Answer

Advertising Expense
(11)	Answer	Answer
Bal	Answer	Answer

Utilities Expense
(10)	Answer	Answer
Bal	Answer	Answer

Supplies
(4)	Answer	Answer
Bal	Answer	Answer

Dividends
(14)	Answer	Answer
Bal	Answer	Answer

Equipment
(2)	Answer	Answer
(3)	Answer	Answer
Bal	Answer	Answer

b. Prepare a trial balance as of May 31.

WALSH & COMPANY, ELECTRICAL CONTRACTOR Trial Balance May 31
	Debit	Credit
Cash	$Answer	$Answer
Accounts Receivable	Answer	Answer
Supplies	Answer	Answer
Equipment	Answer	Answer
Truck	Answer	Answer
Accounts Payable	Answer	Answer
Notes Payable	Answer	Answer
Common Stock	Answer	Answer
Dividends	Answer	Answer
Service Revenue	Answer	Answer
Rent Expense	Answer	Answer
Utilities Expense	Answer	Answer
Truck Expense	Answer	Answer
Advertising Expense	Answer	Answer
Interest Expense	Answer	Answer
Wages Expense	Answer	Answer
Totals	$Answer	$Answer

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