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Transaction Analysis and Financial Statements Blue Jay Delivery Service is incorporated on January 2 and enters into the following transactions during its first month of operations: Required: 1. Complete the below table to summarize the preceding transactions as they affect the accounting equation. Ignore depreciation expense and interest expense. If an account is unaffected by a transaction, enter "0". Use the minus sign to indicate decreases. Blue Jay Delivery Service Transactions for the Month of January Assets = Liabilities + Stockholders' Equity Date Cash Accounts Receivable Trucks Warehouse Land Accounts Payable Notes Payable Capital Stock Retained Earnings Jan. 2 $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ Jan. 3 _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ Bal. $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ Jan. 4 _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ Bal. $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ Jan. 6 _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ Bal. $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ Jan. 31 _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ Bal. $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ Jan. 31-Services _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ Bal. $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ Jan. 31-Gas & oil _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ _________________ Bal. $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ $ _________________ Total Assets $ _________________ Total Liabilities and Stockholders' Equity $ _________________ 2. Prepare an income statement for the month of January. Blue Jay Delivery Service Income Statement For the Month Ended January 31 $ $ 3. Prepare a classified balance sheet at January 31 Blue Jay Delivery Service Balance Sheet January 31 Assets Current assets: $ Total current assets $ Property, plant, and equipment: $ Total property, plant, and equipment Total assets $ Liabilities and Stockholders' Equity Current liabilities: $ Long-term debt: Total liabilities $ $ Total stockholders' equity Total liabilities and stockholders' equity $
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