Question

Windsor, Inc. was started on May 1. A summary of May transactions is presented below.

1. Stockholders invested $23,500 cash in the business in exchange for common
stock.
2. Purchased equipment for $4,000 cash.
3. Paid $200 cash for May office rent.
4. Paid $600 cash for supplies.
5. Incurred $150 of advertising costs in the Beacon News on account.
6. Received $4,900 in cash from customers for repair service.
7. Declared and paid a $1,400 cash dividend.
8. Paid part-time employee salaries $1,200.
9. Paid utility bills $140.
10. Performed repair services worth $1,020 on account.
11. Collected cash of $110 for services billed in transaction (10).
Required:
Prepare a tabular analysis of the transactions. Revenue is called service revenue.

Answer 1

Answer: See explanation

Step-by-step explanation:

The tabular analysis of the transactions had been prepared and attached. The tabular analysis consist of heading such as cash, account receivable, supplies, equipment, account payable, common stock, revenue, expense and dividends.

Check the attachment for the solution.