Reference no: EM132979553

Wildhorse Co. was started on May 1. A summary of May transactions is presented as follows.

1. Stockholders invested $14,000 cash in the business in exchange for common stock.
2. Purchased equipment for $4,500 cash.
3. Paid $600 cash for May office rent.
4. Paid $600 cash for supplies.
5. Incurred $350 of advertising costs in the Beacon News on account.
6. Received $4,700 in cash from customers for repair service.
7. Declared and paid a $1,400 cash dividend.
8. Paid part-time employee salaries $800.
9. Paid utility bills $130.
10. Performed repair services worth $1,030 on account
11. Collected cash of $110 for services billed in transaction (10).

Problem 1: Make a tabular analysis of the transactions. Revenue is called Service Revenue.