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please show working. Net income: $10,850 PR 1-4B Transactions; financial statements Obj. 4,5 On April 1, 20Y8, Maria Adams established Custom Realty. Maria completed the
please show working.
Net income: $10,850 PR 1-4B Transactions; financial statements Obj. 4,5 On April 1, 20Y8, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April: a. Opened a business bank account with a deposit of $24,000 in exchange for common stock. b. Paid rent on office and equipment for the month, 53,600 . c. Paid outomobile expenses for month, $1,350, and miscellaneous expenses, $600. d. Purchased supplies on account, $1,200. e. Eamed sales commissions, receiving cash, $19,800. f. Paid creditor on account, $750. g. Paid office salaries, $2,500, h. Paid dividends, 53,500 , i. Determined that the cost of supplies on hand was $300; therefore, the cost of supplies used was $900. Instructions 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings Step by Step Solution
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