Exercise 4.

a)

Carla Quentin

Assets = Liability Owner's Equity

Account Supplie Notes Accounts Owner's

Date Cash + + + Equipments = + + +
Receivable s Payable Payable Capital

May-01 $7,000 $7,000

May-02 ($900)

May-03 $600
$600
May-05 ($125)

May-09 $4,000

May-12 ($1,000)

May-15 $5,400

May-17 ($2,500)

May-20 ($600) ($600)

May-23 $4,000 ($4,000)

May-26 $5,000 $5,000

May-29 $4,200 $4,200

May-30 ($275)

$14,600 $1,400 $600 $4,200 $5,000 $4,200 $7,000

 Owner's Equity

Owners
+ Revenues - Expenses
Drawings

$900

$125

$4,000

$1,000

$5,400

$2,500

$275

$1,000 $9,400 $3,800