_{ANSWER ALL PLEASE}

Journal Entries and Trial Balance On August 1, 2017, Rafael Masey established Planet Realty, which completed the following transactions during the month: a. Rafael Masey transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $19,000. b. Purchased supplies on account, $1,050. c. Earned sales commissions, receiving cash, $16,150. d. Paid rent on office and equipment for the month, $3,550. e. Paid creditor on account, $390. f. Paid dividends, $950. g. Paid automobile expenses (including rental charge) for month, $990, and miscellaneous expenses, $660. h. Paid office salaries, $2,070. i. Determined that the cost of supplies used was $580. Required: 1. Journalize entries for transactions (a) through (i), using the following account titles: Cash, Supplies, Accounts Payable, Common Stock, Dividends, Sales Commissions, Rent Expense, Office Salaries Expense, Automobile Expense, Supplies Expense, Miscellaneous Expense. If an amount box does not require an entry, leave it blank. a. Cash 19,000 Common Stock 19,000 b. Supplies 1,050 Accounts Payable 1,050 Cash c. 16,150 Sales Commissions 16,150 d. Rent Expense 3,550 Cash 3,550 Accounts Payable e. 390 Cash 390 f. Dividends 950 Cash 950 Automobile Expense g. 990 Miscellaneous Expense 660 Cash 1,650 h. Office Salaries Expense 2,070 Cash 2,070 0 i. Supplies Expense 580 Supplies 580 2. Prepare T accounts, using the account titles in (1). Post (in chronological order) the journal entries to these accounts, selecting the appropriate letter to the left of each amount to identify the transactions. Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance. Cash a. 19,000 d. 3,550 C. 16,150 e. 390 b. 1,050 g. 1,650 i. 580 Bal. 27,930 Supplies b. 1,050 i. 580 Bal. 470 Supplies b. 1,050 i. 580 Bal. 470 Accounts Payable Bal. Common Stock Dividends Sales Commissions Sales Commissions Rent Expense Office Salaries Expense Automobile Expense Supplies Expense Miscellaneous Expense 3. Prepare an unadjusted trial balance as of August 31, 2047. List all accounts in the order of Assets, Liabilities, Stockholders' equity, Revenues, and Expenses. For those boxes in which no entry is required, leave the box blank. Planet Realty Unadjusted Trial Balance August 31, 2017 Debit Balances Credit Balances 4. Determine the following: a. Amount of total revenue recorded in the ledger. $ b. Amount of total expenses recorded in the ledger. $ c. Amount of net income for August. $ 5. Determine the increase or decrease in retained earnings for August. $