1. The analysis of the transactions using the expanded accounting equation — Howard McGraw Windsor opened First City Surveying Service his accountant analyze listed

Howard McGraw of Windsor opened First City Surveying Service. As his accountant, analyze the transactions listed and present to Howard the following information, in proper form:

1. The analysis of the transactions using the expanded accounting equation

2. A balance sheet showing the financial position of the firm before opening on May 1, 2013

3. An income statement for the month of May

4. A statement of owner’s equity for May 5. A balance sheet as of May 31, 2013

SOLUTION

1.

|FIRST CITY SURVEYING SERVICE

2.

FIRST CITY SURVEYING SERVICE

BALANCE SHEET

APRIL 30, 2013