Business, 01.03.2021 22:00, 163565

Nona Curry started her own consulting firm, Kingbird, Inc., on May 1, 2017. The following transactions occurred during the month of May. May
1 Stockholders invested $15,600 cash in the business in exchange for common stock.
2 Paid $624 for office rent for the month.
3 Purchased $520 of supplies on account.
5 Paid $156 to advertise in the County News.
9 Received $1,456 cash for services performed.
12 Paid $208 cash dividend.
15 Performed $4,368 of services on account.
17 Paid $2,600 for employee salaries.
20 Paid for the supplies purchased on account on May 3.
23 Received a cash payment of $1,248 for services performed on account on May 15.
26 Borrowed $5,200 from the bank on a note payable.
29 Purchased office equipment for $2,080 paying $208 in cash and the balance on account.
30 Paid $187 for utilities.

Required:
Show the effects of transactions on the accounting equation.

Answers: 3

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Nona Curry started her own consulting firm, Kingbird, Inc., on May 1, 2017. The following transactio...