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Transactions; Financial Statements On April 1, 2019, Maria Adams established Custom Realty. Maria completed the following transactions during the month of April: a. Opened a
Transactions; Financial Statements On April 1, 2019, 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 from personal funds. b. Paid rent on office and equipment for the month, $3,600. C. Paid automobile expenses (including rental charge) for the month, $1,350, and miscellaneous expenses, $600. d. Purchased office supplies on account, $1,200. e. Earned sales commissions (revenue) from selling real estate, receiving cash, $19,800. f. Paid creditor on account, $750. g. Paid office salaries, $2,500. h. Withdrew cash for personal use, $3,500. i. Determined that the cost of supplies on hand was $300; therefore, the cost of supplies used was $900. Required: 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. Assets Liabilities 1 Ominarle Gamit Assets = Liabilities + Owner's Equity Cash + Supplies = Accounts - + Payable Maria Adams, Capital - Maria Adams, Drawing + Sales Commissions Rent Expense Salaries Expense Auto Expense Supplies Expense Miscellaneou Expense ; ; Accounting numeric field ; 2. Prepare an income statement for April. Custom Realty Income Statement For the Month Ended April 30, 2019 Expenses: Total expenses TA Prenare a statement of owner's equity for Anril Tf an amount is zero enter
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