Transactions and statements On April 1. 2018, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April Opened a business bank account with a post of 532.000 in change for common stock b. Purchased up on account, $3,200. c. Paid creditor on account: $2,000 d Earned a commissions, receiving cash, 32,670 Pald rent on office and equipment for the month $6,400. Paid dividends, $10,000 Paid automobil pences for month, 13,070, and muscle expenses, 11:470 Paid office salaris, 53,360 Determined that the cost of suppies on hand was 11.00 therefore, the cost of supplies wed was 12.120 Required 1. Indicate the effect of each transaction and the balances for each transaction For the bones in which stryd, wave the box. 18 ore ter negative alerte munus son Assets Liabilities | Stockholders Equity Cash + Accounts Common Supplies Sale + Rent Dividende Salaries Auto Supplies Haneous Payable Stoch Commissione Expense Expense tre Espen 32,000 32.000 3,200 3.200 25,600 x 2,200 3,200 32.000 L. 2030 X 2,030 x Bal 23,570 x 3.2007 1,170 32.000 000 Bu UZU RU 10,000 x 10,000 X 3,200 1,170 32,000 10,000 X Bal 3,200 1,170 32,000 10,000 x h. Bal 1,170 32,000 10,000 X 3,200 -2,120 Bal. 1,080 1,170 32,000 10,000 X Check My Work Review Transactions (a) to msumarted on Exhibit in the text Recal that the very transaction must modify the accounting pution yetmana 2. Prepare an income statement for April Custom Realty Income Statement For the Month Ended April 30, 2048 Sales commissions 1220 X Expenses Salaries expense 1920 X 2. Prepare an income statement for April. Custom Realty Income Statement For the Month Ended April 30, 2048 Sales commissions 33,220 X Expenses: Salaries expense 3,920 X Rent expense 6,510 X Automobile expense 3,120 X Supplies expense 2,160 X Miscellaneous expense 1,490 X Total expenses 17,200 X Net income 16,020 X Feedback Check My Work Prepare a statement of stockholders uity for Art an amount is er for the bones in which you must enter notre response Custom Realty Statement of stockholders' Equity For the Month Ended April 30, 2018 Common Stock Retained Earnings Total Balances, April, 2018 Issued common stock 19.00 Net Income 14,30 x 10.00 Dividends Balances, April 30, 2018 31,00 Follow Example Exact Reement of retained in combined on the years to come the most woment is needed a complete the son of the Prepare a balance sheet as of April 30. Custom Realty Balance Sheet April 30, 2018 Prepare a balance sheet as of April 30. Custom Realty Balance Sheet April 30, 2048 Assets Cash 38,120 X Supplies 1,100 x Total assets 39,220 x Liabilities Accounts payable 1,200 x Stockholders' Equity 32,000 Common stock Retained earnings 6,020 X Total stockholders' equity 38,020 X Total liabilities and stockholders' equity 39,220 X
