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(solution) I am having trouble trying to get my accounting equation to match


I am having trouble trying to get my accounting equation to match for question 20. 

  Requirements:                                
                                     
  1 Enter the transactions for May into the accounting equation, calculating new balances after each entry.              
    Assets = Liabilities + Stockholders' Equity
    Cash + Accounts receivable + Supplies + Equipment   Accounts payable   Common stock + Service revenue - Salaries expense - Rent Expense
                                     
  April Bal. $1,540.00 + $3,680.00 + + $24,000.00 = $5,100.00 + $21,000.00 + $5,100.00 - $1,980.00 -
  1-May $10,000.00                   $10,000.00            
    $11,540.00 + $3,680.00 +   + $24,000.00 = $5,100.00 + $31,000.00 + $5,100.00 - $1,980.00 -  
  7-May -$5,100.00               -$5,100.00                
    $6,440.00 + $3,680.00 +   + $24,000.00 =   + $31,000.00 + $5,100.00 - $1,980.00 -  
  15-May $5,000.00                       $5,000.00        
    $11,440.00 + $3,680.00 +   + $24,000.00 =   + $31,000.00 + $10,100.00 - $1,980.00 -  
  17-May -$1,200.00   -$1,200.00                            
    $10,240.00 + $2,480.00 +   + $24,000.00 =   + $31,000.00 + $10,100.00 - $1,980.00 -  
  20-May         $1,000.00       $1,000.00                
    $10,240.00 + $2,480.00 +   + $24,000.00 = $1,000.00 + $31,000.00 + $10,100.00 - $1,980.00 -  
  24-May                                  
    $10,240.00 + $2,480.00 +   + $24,000.00 = $1,000.00 + $31,000.00 + $10,100.00 - $1,980.00 -  
  25-May                                  
    $10,240.00 + $2,480.00 +   + $24,000.00 = $1,000.00 + $31,000.00 + $10,100.00 - $1,980.00 -  
  28-May                                  
    $10,240.00 + $2,480.00 +   + $24,000.00 = $1,000.00 + $31,000.00 + $10,100.00 - $1,980.00 -  
  30-May                                  
    $10,240.00 + $2,480.00 +   + $24,000.00 = $1,000.00 + $31,000.00 + $10,100.00 - $1,980.00 -  
  30-May                                  
  Bal. $10,240.00 + $2,480.00 +   + $24,000.00 = $1,000.00 + $31,000.00 + $10,100.00 - $1,980.00 -


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20-May

Smith purchased supplies for $1,000 on account

 


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Sep 13, 2020

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