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Transactions On April 1 of the current year, Morgan Jones established a business to manage rental property. She completed the following transactions during April: Opened

Transactions

On April 1 of the current year, Morgan Jones established a business to manage rental property. She completed the following transactions during April:

  1. Opened a business bank account with a deposit of $43,000 in exchange for common stock.
  2. Purchased office supplies on account, $2,960.
  3. Received cash from fees earned for managing rental property, $8,320.
  4. Paid rent on office and equipment for the month, $3,640.
  5. Paid creditors on account, $1,350.
  6. Billed customers for fees earned for managing rental property, $6,740.
  7. Paid automobile expenses for month, $810, and miscellaneous expenses, $400.
  8. Paid office salaries, $2,560.
  9. Determined that the cost of supplies on hand was $1,750; therefore, the cost of supplies used was $1,210.
  10. Paid dividends, $2,430.

4. How much did Aprils transactions increase or decrease stockholders equity?

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