Following are the transactions for October for Yoda Corporation: 1. Received $9,000 cash from shareholders in exchange for shares of common stock. 2. Purchased $700 supplies on account from Solo Company. 3. Paid $800 cash for October rent on office space. 4. Purchased equipment costing $4,000; paid $900 cash; signed a promissory note for the remainder due. 5. Borrowed $1,000 cash from the bank and signed a promissory note for the balance due. 6. Performed services and received $1,200 cash from customers. 7. Made a $700 cash payment on account to Solo Company (related to transaction #2). 8. Performed services and billed customers $1,700. 9. Declared and paid $200 cash dividends to shareholders. 10. Received $1,000 cash on account from previously billed customers. 11. Paid cash for an employee's salary for October $300. 12. Received a utility for October for $120--the bill will be paid in November. REQUIRED: 1. Show the effect of each transaction on assets, liabilities, and stockholders' equity in the Workpaper. If the transaction affects retained earnings, enter the type 2. If the transaction affects retained earnings, enter the type of retained earnings in the Type column: REV for revenue, EXP for expense; and DIV for dividend. 3. Be sure to compute a new balance after each transaction. (Note: Retained Earnings will have a negative balance for awhile, but should end with a positive balance.) Module 1 Checkpoint #1 Workpaper Yoda Corporation ASSETS LIABILITIES + STOCKHOLDERS' EQUITY Paid-in Retained Capital + Earnings Accounts Accounts Notes Common Retained Cash + Receivable + Supplies - Equipment = Payable + Payable + Stock + Earnings Type 1. 1. Bal Bal 2. 2. Bal Bal 3. 3. Bal Bal 4. 4. Bal Bal 5. 5. Bal Bal 6. 6. Bal Bal 7. 7. Bal Bal 8. 8. Bal Bal 9. 9. Bal Bal 10. 10. Bal Bal 11. 11. Bal Bal 12. 12. Bal Bal