Transactions

On June $1$ of the current year, Chris Bates established a business to manage rental property. The following transactions were completed during June:

a$.$ Opened a business bank account with a deposit of $$49,000$ in exchange for common stock.

b$.$ Purchased office supplies on account, $$2,710.$

c$.$ Received cash from fees earned for managing rental property, $$7,490.$

d$.$ Paid rent on office and equipment for the month, $$3,320.$

e$.$ Paid creditors on account, $$1,230.$

f$.$ Billed customers for fees earned for managing rental property, $$6,140.$

g$.$ Paid automobile expenses for month, $$740,$ and miscellaneous expenses, $$370.$

h$.$ Paid office salaries, $$2,330.$

i$.$ Determined that the cost of supplies on hand was $$1,600$; therefore, the cost of supplies used was $$1,110.$

j$.$ Paid dividends, $$2,210.$

Required:

Indicate the effect of each transaction and the balances after each transaction:

If an amount box does not require an entry, leave it blank.

For those boxes in which you must enter subtractive or negative numbers use a minus sign. $($Example: $-300$

$-$I need help filling the blanks and answering the following questions, thank you

$2.$ Stockholders$$ equity is the right of stockholders $($owners$)$ to the assets of the business. These rights are

by issuing common stock and revenues and

by dividends and expenses.

$3.$ Determine the net income for June.

$4.$ How much did June$$s transactions increase or decrease stockholders$$ equity?