Test: Chapter 1 Quiz This Question: 1 pt A 3 of 4 (4 complete) Jay Taylor, a retired army officer, opened Taylor's Catering Service. As his accountant, analyze the transactions listed and present them in proper form. i (Click the icon to view the transactions.) Requirements a. Analyze and record each transaction in the expanded accounting equation. Transaction lines are identified by the corresponding date on which each transaction occurred. Recalculate new balances on the "Bal." line for applicable accounts that have a non-zero balan box is not used in the transaction or balance [Bal.] line leave the box empty; do not enter a zero. Enter a decrease in an account with a minus sign or parentheses. W/drawals = Withdrawals) Oct. 25: Jay Taylor invested $27,000 in the catering business from his personal savings account. Assets Liabilities Owner's Equity Cash + Accounts + Equipment = Accounts + J. Taylor, J. Taylor, + Catering Expenses Receivable Payable Capital W/drawals Revenue 10/25 27000 + + 11 + 27000 Bal. 27000 27000 Oct. 27: Bought equipment for cash from Watson Co, $1,200. Assets Liabilities Owner's Equity notarina Choose from any list or enter any number in the input fields and then continue to the next question. Type here to search O 52