1. On August 1, 20Y7, Rafael Masey established Planet Realty, which completed the following transactions during the month:

   1. Rafael Masey transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $29,000.
   2. Purchased supplies on account, $1,560.
   3. Earned sales commissions, receiving cash, $24,070.
   4. Paid rent on office and equipment for the month, $5,300.
   5. Paid creditor on account, $580.
   6. Paid dividends, $1,420.
   7. Paid automobile expenses (including rental charge) for month, $1,470, and miscellaneous expenses, $990.
   8. Paid office salaries, $3,080.
   9. Determined that the cost of supplies used was $870.

   Required:

   1. Journalize entries for transactions (a) through (i), using the following account titles: Cash, Supplies, Accounts Payable, Common Stock, Dividends, Sales Commissions, Rent Expense, Office Salaries Expense, Automobile Expense, Supplies Expense, Miscellaneous Expense. If an amount box does not require an entry, leave it blank.

   a.		fill in the blank f8640dfc203afd1_2	fill in the blank f8640dfc203afd1_3
   		fill in the blank f8640dfc203afd1_5	fill in the blank f8640dfc203afd1_6
   b.		fill in the blank f8640dfc203afd1_8	fill in the blank f8640dfc203afd1_9
   		fill in the blank f8640dfc203afd1_11	fill in the blank f8640dfc203afd1_12
   c.		fill in the blank f8640dfc203afd1_14	fill in the blank f8640dfc203afd1_15
   		fill in the blank f8640dfc203afd1_17	fill in the blank f8640dfc203afd1_18
   d.		fill in the blank f8640dfc203afd1_20	fill in the blank f8640dfc203afd1_21
   		fill in the blank f8640dfc203afd1_23	fill in the blank f8640dfc203afd1_24
   e.		fill in the blank f8640dfc203afd1_26	fill in the blank f8640dfc203afd1_27
   		fill in the blank f8640dfc203afd1_29	fill in the blank f8640dfc203afd1_30
   f.		fill in the blank f8640dfc203afd1_32	fill in the blank f8640dfc203afd1_33
   		fill in the blank f8640dfc203afd1_35	fill in the blank f8640dfc203afd1_36
   g.		fill in the blank f8640dfc203afd1_38	fill in the blank f8640dfc203afd1_39
   		fill in the blank f8640dfc203afd1_41	fill in the blank f8640dfc203afd1_42
   		fill in the blank f8640dfc203afd1_44	fill in the blank f8640dfc203afd1_45
   h.		fill in the blank f8640dfc203afd1_47	fill in the blank f8640dfc203afd1_48
   		fill in the blank f8640dfc203afd1_50	fill in the blank f8640dfc203afd1_51
   i.		fill in the blank f8640dfc203afd1_53	fill in the blank f8640dfc203afd1_54
   		fill in the blank f8640dfc203afd1_56	fill in the blank f8640dfc203afd1_57

   2. Prepare T accounts, using the account titles in (1). Post (in chronological order) the journal entries to these accounts, selecting the appropriate letter to the left of each amount to identify the transactions. Determine the account balances, after all posting is complete. Accounts containing only a single entry do not need a balance.

   Cash
   	fill in the blank 78efbdff9ff201c_2		fill in the blank 78efbdff9ff201c_4
   	fill in the blank 78efbdff9ff201c_6		fill in the blank 78efbdff9ff201c_8
   			fill in the blank 78efbdff9ff201c_10
   			fill in the blank 78efbdff9ff201c_12
   			fill in the blank 78efbdff9ff201c_14
   Bal.	fill in the blank 78efbdff9ff201c_15

   Supplies
   	fill in the blank 78efbdff9ff201c_17		fill in the blank 78efbdff9ff201c_19
   Bal.	fill in the blank 78efbdff9ff201c_20

   Accounts Payable
   	fill in the blank 78efbdff9ff201c_22		fill in the blank 78efbdff9ff201c_24
   		Bal.	fill in the blank 78efbdff9ff201c_25

   Common Stock
   			fill in the blank 78efbdff9ff201c_27

   Dividends
   	fill in the blank 78efbdff9ff201c_29

   Sales Commissions
   			fill in the blank 78efbdff9ff201c_31

   Rent Expense
   	fill in the blank 78efbdff9ff201c_33

   Office Salaries Expense
   	fill in the blank 78efbdff9ff201c_35

   Automobile Expense
   	fill in the blank 78efbdff9ff201c_37

   Supplies Expense
   	fill in the blank 78efbdff9ff201c_39

   Miscellaneous Expense
   	fill in the blank 78efbdff9ff201c_41

   3. Prepare an unadjusted trial balance as of August 31, 20Y7. List all accounts in the order of Assets, Liabilities, Stockholders equity, Revenues, and Expenses. For those boxes in which no entry is required, leave the box blank.

   Planet Realty
   Unadjusted Trial Balance
   August 31, 20Y7
   	Debit Balances	Credit Balances
   	fill in the blank 6c940af3601efd1_2	fill in the blank 6c940af3601efd1_3
   	fill in the blank 6c940af3601efd1_5	fill in the blank 6c940af3601efd1_6
   	fill in the blank 6c940af3601efd1_8	fill in the blank 6c940af3601efd1_9
   	fill in the blank 6c940af3601efd1_11	fill in the blank 6c940af3601efd1_12
   	fill in the blank 6c940af3601efd1_14	fill in the blank 6c940af3601efd1_15
   	fill in the blank 6c940af3601efd1_17	fill in the blank 6c940af3601efd1_18
   	fill in the blank 6c940af3601efd1_20	fill in the blank 6c940af3601efd1_21
   	fill in the blank 6c940af3601efd1_23	fill in the blank 6c940af3601efd1_24
   	fill in the blank 6c940af3601efd1_26	fill in the blank 6c940af3601efd1_27
   	fill in the blank 6c940af3601efd1_29	fill in the blank 6c940af3601efd1_30
   	fill in the blank 6c940af3601efd1_32	fill in the blank 6c940af3601efd1_33
   	fill in the blank 6c940af3601efd1_34	fill in the blank 6c940af3601efd1_35

   4. Determine the following:

   a. Amount of total revenue recorded in the ledger. $fill in the blank 3b8655f32f86f95_1

   b. Amount of total expenses recorded in the ledger. $fill in the blank 3b8655f32f86f95_2

   c. Amount of net income for August. $fill in the blank 3b8655f32f86f95_3

   5. Determine the increase or decrease in retained earnings for August. $fill in the blank 3b8655f32f86f95_4