Question

Print item Book Calculator Transactions, Financial Statements On April 1, 2010, Maria Adams established Custom Realty, Maria completed the fo a. Opened a business bank account with a deposit of $34,000 in exchange b. Purchased supplies on account, $3,490. c. Paid creditor on account, $2,210. d. Earned sales commissions, receiving cash, $35.600. e. Paid rent on office and equipment for the month, $6,980. f. Pald dividends, $11,000. 9. Paid automobile expenses for month, $3,350, and miscellaneous exp h. Paid office salaries, $4,200. Determined that the cost of supplies on hand was $1,170, therefore, the cost of supplies used was $2,320. Required: 1. Indicate the effect of each transaction and the balances after each transaction. For those boxes in which no entry is required, leave the box blank. If required, enter negative values as negative numbers using a minus sign. Assets Stockholders' Equity - Llabilities + Salaries Auto Supplies Accounts Common Miscellaneous Cash + Supplies - Dividends Payable Commissions - Rent Expenser Stock Expense Expense Expense Expense ELLO! III UN Check My Work 2 more Check My Work uses Previous H Emal instructor Save and Eat Submit Assignment for Grade

Answer 1

217 Assets - Liabilities & Stockhojder's equiry 9 $34000 Account comm Sales Rentsalary auro supplies miscellaneous osh supplies payable stock Div commi EXP. EXP. EXP. EXP. Expense 34000 13490 3490 als 34000 3490 3490 34000! c-2210 1-2210 Bd 31790 3490 3 90 34000 35600 1280 35600 pal 67390 3490 1790 34000 35600 e-6980 12. 80 - 6950 Boll GoGlo 3490 3190 34000 35600 -6980 If - 11000 1280 11000 2 49410 3490 3TIGO 34000 -11000 35 600 -6980 9-4950 1280 - 3350 - 1600 Bal 44,460 3490 317 90 34000-11000 35600 - 6980. -3350 h -4200 1280 - 4200 B01 40260 34 90 90 34000 -11000 3 5600 -6980 - 4200 -3350 - 1600 1280 22320 1-2320 Bo 40260 tuzo 340ool-11000 35600 -6980 - 4200 - 33 sol-2320 - 1600 zao 1280

Custom Realty Income statement for the month ended April 30 2048 sales commission $ 35600 Expense : Rent expense S 6980 salaries expense 4200 Automobile expense 3350 supplies Expense 2320 miscellaneous expense 1600 Toral expense (6 18450) Net Income B 17150 custom Realty statement of Stockholder's equity for the month ended April 30, 2018 common stock Retained Ecan Total Beginning Balance so so Investment $34000 $34000 Add: Net Income 1 7150 & 17150 Less: Dividend (11000) (1000) Total capital $34000 9 6150 40150

custom Realty Balance sheet April 30 2018 Assets cash supplies TOTO Assets S 40260 1170 5 41,430 Liabilities Accounts payable 1280 3400o stockholder's equity common stock Retained comings. Tota Stockholders & quity Total liabilite & stockholdeo's Equity 6150 40150 $ 41.430