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Linda Williams started her own consulting firm,...

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Accounting

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Linda Williams started her own consulting firm, Linda Consulting, on May 1, 2022. The following transactions occurred during the month of May. 2 3 5 9 12 May 1 Unda invested $7.000 cash in the business. Paid $800 for office rent for the month. Purchased $700 of supplies on account Paid $200 to advertise in the County News. Received $4.400 cash for services performed. Withdrew $1,000 cash for personal use. Performed $5.900 of services on account Paid $2,500 for employee salaries. 20 Made a partial payment of $500 for the supplies purchased on account on May 3. Received a cash payment of $3.900 for services performed on account on May 15. Borrowed 55 100 from the bank on a note payable. Purchased equipment for $4,300 on account Paid $250 for utilities 15 17 23 26 29 30 Prepare an income statement for the month of May, LINDA CONSULTING Income Statement S $ Prepare a balance sheet at May 31, 2022. (ListAssets in order of liquidity.) LINDA CONSULTING Balance Sheet Assets $ $ Liabilities and Owner's Equity

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