Presented below is a list of transactions occurring for RadioHut in April of 2022. 1. On April 1st Humphrey contributes $150,000 in cash and $96,000 in equipment to start RadioHut, an electronics store. 2. On April 1st RadioHut takes out a loan for $40,000 from Summit Credit Union. 3. On April 1st RadioHut prepays $24,000 for one year of rent. 4. On April 2nd RadioHut purchases $20,000 of inventory and $15,000 of supplies. RadioHut finances these assets by paying $30,000 in cash and receiving short-term credit for the remainder. 5. RadioHut receives a customer deposit on April 10th of $750 to fix her computer. 6. On April 14th an employee trips and threatens to sue RadioHut, accusing Humphrey of untying his shoelaces on purpose. RadioHut thinks it is unlikely that it will have to pay an uncertain amount for the lawsuit sometime in the future. 7. On April 26th RadioHut pays $1,000 for equipment maintenance. 8. RadioHut pays Humphrey $3,000 in dividends on April 29th. 9. RadioHut fixes the customers computer (from #5) and returns it to her on April 29. 10. On April 30th RadioHut records sales of $60,000. Of the $60,000 in sold electronics, $50,000 relate to cash sales and $10,000 relate to sales on account. The total cost for inventory sold is $18,000. 11. On April 30th RadioHut pays $300 in interest from its bank loan (see #2). 12. On April 30th RadioHut records the usage of one month of prepaid rent (see #3). 13. The equipment (from #1) is expected to be used for eight years (96 months). 14. On April 30th RadioHut records an adjustment to its books after calculating that $800 of the original $10,000 of sales on account (from #10) would go unpaid. 15. On April 30th RadioHut counts its supplies and finds that it has $10,000 on hand. 16. Employee salaries of $8,000 for April will be paid on May 2. Transaction Analysis Analyze the effect of transactions 1 16 on RadioHuts financial statements using the financial statement effects template (FSET) classifications below. Note that transactions 12 16 are adjusting transactions. Be sure to include plusses (+) and minuses (-) along with the respective amounts to denote an increase or decrease to each account affected. If no accounts are affected by the transaction, write No Entry on the FSETs corresponding line. Consistent with what weve done in class, enter increases in expenses as positive numbers and decreases in expenses as negative when entering expense amounts. # Cash Noncash Assets Liab. Contrib. Capital Earned Capital Revenues Expenses Net Income 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. +50000 +10000 -18000 +42000 +60000 +18000 Cogs +42000 11. 12. 13. 14. 15. 16