Getting ready for the upcoming holiday season is traditionally a busy time for greeting card companies, and it was no exception for Kate. The following transactions occurred during the month of October: TIP: Enter expenses in order of magnitude $($largest to smallest amounts$).$

TIP: Refer to Exhibit $3-3$ for help with order of presentation.

$\backslash$table$[[$ANGEL CITY GREETINGS$],[$Statement of Stockholders' Equity$],[$For the month ending October $31],[,,$Common stock,,,,,$],[,,$Stock,,,,,$],[$Balance$,$ Oct $1,$$$,,,$$$,,$$$,0],[,,,,,,,0],[,,,,,,,0],[$Balance$,$ Oct $31,$$$,,0,$$$,0,$$$,0]]$

TIP: Refer to Exhibit $3-3$ for help with order of presentation.

ANGEL CITY GREETINGS

Balance Sheet

October $31$

$\backslash$table$[[$Assets$,,$Liabilities and Stockholders' Equity,,$],[*^(),$$$,,$$$,],[,,*^(),,],[*^(),300,$Unearned revenue,,$],[,,$Total liabilities,$$,$$$0],[,4,800,,,],[,,,,],[,,$Total equity,,$0],[$Total Assets,$ $5100,$Total Liabilities and Stockholders' Equity,$$,\backslash$table$[[0]]]]$

$1.$ Hired an assistant at an hourly rate of $$10$ per hour to help with some of the computer

layouts and administrative chores.

$2.$ Supplements her business by teaching a class to aspiring card designers. She charges and receives a

total of $$450.$

$3.$ Delivers greeting cards to several new customers. She bills them a total of $$1,500.$

$4.$ Pays a utility bill in the amount of $$250$ for the month of October that she determines is the

business portion of her utility bill.

$5.$ Receives an advance deposit of $$500$ for a new set of cards she is designing for a new customer.

$6.$ Pays her assistant $$200$ for the work done this month.

$7.$ Determines that the assistant has worked $10$ additional hours this month that have not yet

been paid.

$8.$ Orders and receives additional supplies in the amount of $$1,000.$ These were paid for

during the month.

$9.$ Counts her remaining inventory of supplies at the end of the month and determines the balance to

be $$300.$ Don$$t forget to consider the supplies inventory balance at September $30,$ from

Chapter $2.$ Hint: This expense will be an increase to Cost of Goods Sold.

$10.$ Records the adjusting entry for depreciation expense for the month. From the information provided

in Chapter $2,$ we know that depreciation expense is $$100.$

$11.$ Records the adjusting entry for insurance expense for the month. From the information provided

in Chapter $2,$ we know that insurance expense is $$100.$

$12.$ Pays herself a salary of $$1,000.$

$13.$ Deciding she needs a little more cash, Kate pays herself a $$500$ dividend.

$14.$ Receives her next utility bill during November and determines $$85$ applies to October$$s

operations.