On April 1, Tamarisk, Inc. was established. These transactions were completed during the month.

1.		Stockholders invested $29,000 cash in the company in exchange for common stock.
2.		Paid $830 cash for April office rent.
3.		Purchased office equipment for $3,350 cash.
4.		Purchased $130 of advertising in the Chicago Tribune, on account.
5.		Paid $330 cash for office supplies.
6.		Performed services worth $12,700. Cash of $2,600 is received from customers, and the balance of $10,100 is billed to customers on account.
7.		Paid $580 cash dividends.
8.		Paid Chicago Tribune amount due in transaction (4).
9.		Paid employees salaries $1,050.
10.		Received $10,100 in cash from customers billed previously in transaction (6)

Problem 3-01A On April 1, Tamarisk, Inc. was established. These transactions were completed during the month. 1. Stockholders invested $29,000 cash in the company in exchange for common stock. 2. Paid $830 cash for April office rent. 3. Purchased office equipment for $3,350 cash. 4. Purchased $130 of advertising in the Chicago Tribune, on account. 5. Paid $330 cash for office supplies. 6. Performed services worth $12,700. Cash of $2,600 is received from customers, and the balance of $10,100 is billed to customers on account. 7. Paid $580 cash dividends. 8. Paid Chicago Tribune amount due in transaction (4). 9. Paid employees' salaries $1,050. 10. Received $10,100 in cash from customers billed previously in transaction (6). Prepare a tabular analysis of the above transactions. Include margin explanations for any changes in Retained Earnings. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-4 for example.) Assets Accounts Receivable TAMARISK, INC. Liabilities = Accounts Payable + Common Stock + Cash + Supplies + Equipment Stockholders' Equity Retained Earnings Expenses Dividends Revenues (1) $ $ $ $ $ $ $ $ $ (2) (3) (4) (5) (6) (7) CALCULATOR PRINTER VERSION BACK NEXT Revenues Expenses Dividends (1) $ $ $ $ (2) (3) (4) (5) (6) (7) (8) (9) (10) $ $ $ $ From an analysis of the Retained Earnings columns, compute the net income or net loss for April. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Net Income / (Loss) for April $ Click if you would like to Show Work for this question: Open Show Work