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Assets = Liabilities + Owner's Equity Cash + Supplies + Land = Accounts Payable + Kristoff...

Assets = Liabilities + Owner's Equity
Cash + Supplies + Land = Accounts Payable + Kristoff Walker, Capital - Kristoff Walker, Drawing + Fees Earned - Expenses
Bal. 32,600 4,200 81,500 8,800 109,500
1. +38,100 +38,100
2. -16,300 +16,300
3. -28,400 -28,400
4. +1,600 +1,600
5. -2,200 -2,200
6. -7,800 -7,800
7. -3,300 -3,300
Bal. 16,000 2,500 97,800 2,600 109,500 -2,200 38,100 -31,700

a. (1) Select the description for transaction 1.

a. (2) Select the description for transaction 2.

a. (3) Select the description for transaction 3.

a. (4) Select the description for transaction 4.

a. (5) Select the description for transaction 5.

a. (6) Select the description for transaction 6.

a. (7) Select the description for transaction 7.

b. What is the amount of the net decrease in cash during the month?
$

c. What is the amount of the net increase in owner's equity during the month?
$

d. What is the amount of the net income for the month?
$

e. How much of the net income for the month was retained in the business?
$

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