4 Question 5 On April 1, Marin Inc. was established. These transactions were completed during the month. 1. Stockholders invested $30,000 cash in the company in exchange for common stock. 2. Paid $650 cash for April office rent. 3. Purchased office equipment for $3,100 cash. Purchased $360 of advertising for the month in the Chicago Tribune, on account. Paid $490 cash for office supplies. Performed services worth $12,100. Cash of $3,700 is received from customers, and the balance of $8,400 is billed to customers on account. Paid $550 cash dividend. Paid Chicago Tribune amount due in transaction (4). Paid employees' salaries $1,140. 10. Received $8,400 in cash from customers billed previously in transaction (6). 5. 6. 7. 8. 9. MARIN INC. Labilities Accounts Common Payable Stock Assets Accounts Receivable Stockholders' Equity Cash Supplies + Equipment Retained Earnings Revenues Expenses Dividends (1) $ (2) Rent Expense (3) Advertising Expense (5) Service Revenue (7) Dividends (8) Salaries and Wages Expense (9)