Assets Prepaid Cash + Supplies + Insurance = Liabilities + Stockholders' Equity Accounts + Common Stock + Payable Retained Earnings a. Investment b. Paid insurance 30,000 30,000 (5,400) 5,400 Balances 24,600 5,400 30,000 C. Purchased supplies 1,800 1,800 Balances 24,600 1,800 5,400 1,800 30,000 d. Fees earned 57,000 57,000 Balances 81,600 1,800 5,400 1,800 30,000 57,000 e. Paid expenses (34,000) (34,000) Balances 47,600 1,800 5,400 1,800 30,000 23,000 f. Paid dividends (8,000) (8,000) Balances 39,600 1,800 5,400 1,800 30,000 15,000 a1. Insurance expense Balances a2. Supplies expense Balances, February 28