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che andrologice August 1, 2017, Rafael Masey established Planet Realty, which completed the following transactions during the month: Rafael Masey transferred cash from a personal bank account to an account to be used for the business in exchange for Common Stock, $17,500. Purchased supplies on account, $2,300. Earned sales commissions, receiving cash, $13,300. Paid rent on office and equipment for the month, $3,000. Pald creditor on account, $1,150. Pald dividends, $1,800. Pald automobile expenses (including rental charge) for month, $1,500, and miscellaneous expenses, $400. . Paid office salaries, $2,800. . Determined that the cost of supplies used was $1,050. Required: 1. Joumisliza entries for transactions (a) through (1), 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 DI IN Book Show Me How 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. Accounes containing only a single entry do not need a balance. Cash Bal. Supplies Accounts Payable Check My Wonore Checy w Common Stock Dividends Sales Commissions Rent Expense Office Salaries Expense Automobile Expense Check My Work My Woman Supplies Expense Miscellaneous Expense 3. Prepare an unadjusted trial balance as of August 31, 2017 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, 2017 Debit Balances Credit Balances Dk My Wormare Cho My Wor Su Supplies Expense Miscellaneous Expense 3. Prepare an unadjusted trial balance as of August 31, 2017 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, 2017 Debit Balances Credit Balances Dk My Worm Cho My Worm Sub Supplies Expense Miscellaneous Expense 3. Prepare an unadjusted trial balance as of August 31, 2017 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, 2017 Debit Balances Credit Balances Dk My Won Cho My Wor Sul 4. Determine the following: 1. Amount of total revenue recorded in the edger b. Amount of total expenses recorded in the ledger. c. Amount of net income for August 5. Determine the increase or decrease in retained earnings for August Check My Work 3 more Check My Work uses remaining
