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Doreen Gray started an interior design company called Interiors by Doreen, Inc., on April 1, 2018. The following amounts summarize the financial position of
Doreen Gray started an interior design company called Interiors by Doreen, Inc., on April 1, 2018. The following amounts summarize the financial position of her business on April 14, 2018, after the first two weeks of operations: (Click the icon to view the amounts.) During the remainder of April, the following events occurred (Click the icon to view the transactions.) Read the the requirements Requirement 1. Enter the remaining transactions for the month leave the box empty, do not enter a zero. Carry down all be receivable; Sup Supplies; Equip Equipment; AP-Acco of April into the expanded accounting equation, calculating new balances after each transaction. (If a box is not used in the table; including zero balance accounts. Enter decreases with a minus sign or parentheses Abbreviations used AR-Accounts able: CS Common stock Rev Revenue; Exp Expense: Div Dividends.) a. Gray received $8,000 as a gift and used it to buy common stock in the business. Assets Cash AR Sup . Equip Liabilities AP + Stockholders' equity Retained eamings Rev Exp Div Bal 1,420- 3,760+ 0+ 32,000- 5,000+ 28.880. 5,500- 2,200- a . Bal b. Paid off the beginning balance of Accounts payable. b. Bal Assets Liabilities Stockholders' equity Cash . AR Sup Equip AP + CS Retained earnings Rev Exp Div . c. Performed services for a client and received cash of $5,000.
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