Question

the ones in red need solving

On April 1, Larkspur, Inc. was established. These transactions were completed during the month. 1. Stockholders invested $29,600 cash in the company in exchange for common stock. 2. Paid $690 cash for April office rent. 3. Purchased office equipment for $2,980 cash. 4. Purchased $110 of advertising in the Chicago Tribune, on account. 5. Paid $430 cash for office supplies. 6. Performed services worth $11,100. Cash of $3,700 is received from customers, and the balance of $7,400 is billed to customers on account. 7. Paid $290 cash dividends. 8. Paid Chicago Tribune amount due in transaction (4). 9. Paid employees' salaries $1,410. 10. Received $7,400 in cash from customers billed previously in transaction (6).

Answer 1

Answer

--Expenses and Dividend to be shown as NEGATIVE AMOUNT

Date	Cash	Accounts receivables	Supplies	Equipment	Notes Payable	Accounts Payable	Common Stock	Revenues	Expenses	Dividends
01-Apr	$29,600						$29,600
02-Apr	($690)								($690)		Rent expense
03-Apr	($2,980)			$2,980
04-Apr						$110			($110)		Advertising expense
05-Apr	($430)		$430
06-Apr	$3,700	$7,400						$11,100			Service revenue
07-Apr	($290)									($290)
08-Apr	($110)					($110)
09-Apr	($1,410)								($1,410)		Salaries expense
10-Apr	$7,400	($7,400)
	$34,790	$0	$430	$2,980	$0	$0	$29,600	$11,100	($2,210)	($290)