blank. Enter Alex Vera organized Succulent Express at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions: a. Terry Mason invested $30,000 in Succulent Express in exchange for common stock. b. Pald $5,400 on February i for an insurance premium on a one-year policy, c. Purchased supplies on account, $1,800. d. Received fees of $57,000 during February e Paid expenses as follows: wages, $21,600; rent, $6,400; utilities, $2,800; and miscellaneous, $3,200. f. Paid dividends of $8,000. Record the preceding transactions using the integrated financial statement framework. After each transaction, enter a balance for each item. If an amount box does not require an entry, leave account decreases and net cash outflows as negative amounts using the minus sign. Financial Statement Effects Balance Sheet Assets Liabilities + Stockholders' Equity Cash + Supplies + Prepaid Insurance Accounts Payable + Common Stock + Retained Earnings a. Investment 30,00 30,00 b. Paid insurance -5,400 450 X -4,956 x Balances 24,60 450 X 30,00 -4,950 X c. Purchased supplies 1,800 1,800 Balances 24,60 1,800 450 x 1,800 30,00 -4,950 x d. Fees earned 57,00 57,00 Balances 81.60 1,800 450 X 1,800 30,00 52,05 x e. Pald expenses . -34,00 -34,00 Balances 47,60 1,800 450 x 1,800 30,00 18,05 x f. Pald dividends -8,000 8,000 X Balances 39,60 1,800 450 x 1,800 30,00 10,05 x Statement of Cash Flows Income Statement a. Operating x $ 17,60 x d. Fees earned $ 57,00 b. Investing X 0 e. Wages expense 21,60 d. Financing x 22,00 x e. Rent expense v 6,400 e. Utilities expenser 2,800 f. e. Miscellaneous expense 3,200 e blank. Enter Alex Vera organized Succulent Express at the beginning of February 20Y4. During February, Succulent Express entered into the following transactions: a. Terry Mason invested $30,000 in Succulent Express in exchange for common stock. b. Pald $5,400 on February i for an insurance premium on a one-year policy, c. Purchased supplies on account, $1,800. d. Received fees of $57,000 during February e Paid expenses as follows: wages, $21,600; rent, $6,400; utilities, $2,800; and miscellaneous, $3,200. f. Paid dividends of $8,000. Record the preceding transactions using the integrated financial statement framework. After each transaction, enter a balance for each item. If an amount box does not require an entry, leave account decreases and net cash outflows as negative amounts using the minus sign. Financial Statement Effects Balance Sheet Assets Liabilities + Stockholders' Equity Cash + Supplies + Prepaid Insurance Accounts Payable + Common Stock + Retained Earnings a. Investment 30,00 30,00 b. Paid insurance -5,400 450 X -4,956 x Balances 24,60 450 X 30,00 -4,950 X c. Purchased supplies 1,800 1,800 Balances 24,60 1,800 450 x 1,800 30,00 -4,950 x d. Fees earned 57,00 57,00 Balances 81.60 1,800 450 X 1,800 30,00 52,05 x e. Pald expenses . -34,00 -34,00 Balances 47,60 1,800 450 x 1,800 30,00 18,05 x f. Pald dividends -8,000 8,000 X Balances 39,60 1,800 450 x 1,800 30,00 10,05 x Statement of Cash Flows Income Statement a. Operating x $ 17,60 x d. Fees earned $ 57,00 b. Investing X 0 e. Wages expense 21,60 d. Financing x 22,00 x e. Rent expense v 6,400 e. Utilities expenser 2,800 f. e. Miscellaneous expense 3,200 e
