On January 1, 2014, Carlton Myers established Vista Realty. Carlton completed the following transactions during the month of January:

Opened a business bank account with a deposit of $31,000 in exchange for capital stock.

Purchased office supplies (pens, file folders, paper, etc.) on account, $3,170.

Paid creditor on account, $2,000.

Earned sales commissions, receiving cash, $32,330.

Paid rent on office and equipment for the month, $6,340.

Paid dividends, $10,000.

Paid automobile expenses (including rental charge) for month, $3,040, and miscellaneous expenses, $1,450.

Paid office salaries, $3,810.

Determined that the cost of supplies on hand was $1,070; therefore, the cost of supplies used was $2,100.

1. Indicate the effect of each transaction and the balances after each transaction. For those boxes in which no entry is required, leave the box blank. If required, enter negative values as negative numbers.

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3. 4.

Assets Liabilities Stockholders' Equity Cash Supplies Accounts Capital Dividends Sales Rent Expense Salaries Auto Supplies Miscellaneous Payable Stock Commissions Expense Expense Expense Expense a. $31,00 31,000 3,170 3,170 C Bal 31,000 3,170 31,000 3,170 2000 2,000 Bal. 31,000 29,000 3,170 1170 32,330 32,330 Bal, 32,330 61330 3,170 31,000 6340 Bal. 61330 3170 31000 32330 6340 61330 -10000 Bal. 61330 31000 3170 -10000 32330 -6340 Bal