accounting 5100

Transaction Entries Creative Designs, a firm providing art services for advertisers, began business on June 1. Using the horizontal worksheet below, record the following transactions for April. Total the columns to show that assets equal liabilities plus stockholders' equity as of June 30. June 01 Lisa Ryan invested $12,000 cash to begin the business, she received common stock for her investment June 02 Paid rent for June, $950. June 03 Purchased office equipment on account, $6,400. June 06 Purchased art materials and other supplies costing $3,800; paid $1,800 down with the remainder due within 30 days. June 11 Billed clients for services, $4,700. June 17 Collected $3,250 from clients on account. June 19 Paid $3,000 on account to office equipment company (see June 3 transaction). June 25 Lisa Ryan received a $2,000 dividend, June 30 Paid utility bill for June, $350. June 30 Paid salaries for June, $2,500. Note: Use negative signs with answers, when appropriate. Note: Use negative signs with answers, when appropriate. Assets Accounts Receivable Supplies Liabilities Accounts + Equipment - Payable Commen Stock Stockholders' Equity Retained Earnings Revenue Expenses - Dividends Transaction Cash 6/01 Invested cash to begin business 6/02 Paid rent 6/03 Purchased office equipment. 6/06 Purchased art materials 6/11 Billed clients for services 6/17 Collected from clients on account. 6/19 Paid on account for office equipment 6/25 Paid dividend 6/30 Paid utility bill 6/30 Paid Salaries TOTALS Stockholders Assets - Liabilities Equity