-X i Data Table Assets = Liabilities + Stockholders' equity Accounts Accounts Common Cash + receivable + Supplies + Equipment = payable + stock + Retained earnings Service Salaries revenue - expense - Dividends $1,660 + $ 3,070 0 + $ 30,000 $ 4,800 + $ 26,010 + $ 5,900 - $ 1,980 0 + Print Done i Requirements 1. Enter the remaining transactions for the month of April into the expanded accounting equation, calculating new balances after each transaction. 2. Prepare the income statement of Interiors by Deb, Inc., for the month ended April 30, 2018. 3. Prepare the statement of retained earnings of Interiors by Deb, Inc., for the month ended April 30, 2018 4. Prepare the balance sheet of Interiors by Deb, Inc., at April 30, 2018. Print Done a. Adams received $10,000 as a gift and used it to buy common stock in the business. Assets - Liabilities Stockholders' equity Cash AR + Sup + Equip - AP CS Retained earnings Rev Exp Div Bal 1,660 + 3,070 + 0 + 30,000 = 4,800 26,010 + 5,900 - 1,980 0 a. + + + Bal + + + b. Paid off the beginning balance of Accounts payable. Assets Liabilities Stockholders' equity Cash AR + Sup + Equip AP CS + Retained earnings Rev Exp Div b Bal c. Performed services for a client and received cash of $6,000. Assets = Liabilities + Stockholders' equity Cash + AR + Sup + Equip AP + CS + Retained earnings Rev Exp Div C. + + + + + Bal + = + d. Collected cash from a customer on account, $850 Assets - Liabilities + Stockholders' equity Cash + AR + Sup + Equip AP + CS + Retained earnings Rev Exp Div d. + + + + + II II Bal I + + + + e. Purchased supplies on account, $500. Assets Liabilities + Stockholders' equity Retained earnings Cash + AR + Sup + Equip AP + CS + Rev Exp Div e. + + + = + + Bal + + + f. Consulted on the interior design of a major office building and billed the client for services performed, $700. Assets Liabilities + Stockholders' equity Cash + AR + Sup + Equip AP + CS + Retained earnings Rev Exp Div f. + + + 1 + + Bal + + g. Sold an additional $8,000 of common stock in the business. Assets = Liabilities + Stockholders' equity Cash + AR + Sup + Equip = AP + CS Retained earnings Rev Exp Div . g + + + + + Bal + + + + h. Incurred and paid salaries of $2,300. Assets - Liabilities + Stockholders' equity Cash + AR + Sup + Equip AP + CS + Retained earnings Rev Exp Div h. + + + + Bal + + i. Sold supplies at cost to another interior designer for $50 cash. Assets Liabilities + Stockholders' equity Cash AR + Sup Equip AP CS Retained earnings Rev Exp Div + Bal + + j. Paid dividends of $500 to the stockholders of Interiors by Deb, Inc. Assets = Liabilities + Stockholders' equity Cash AR + Sup Equip AP CS + Retained earnings Rev Exp Div + + Bal + Requirement 2. Prepare the income statement of Interiors by Deb, Inc., for the month ended April 30, 2018. (If a box is not used in the income statement leave the box empty, do not enter a zero.) Start with the heading and then complete the rest of the statement. Revenue Expenses Total expenses Net income Requirement 3. Prepare the statement of retained earnings Interiors by Deb, Inc., for the month ended April 30, 2018. (Enter an amount for each account, including any zero-balances.) Start with the heading and then complete the rest of the statement. Review the ending balances of the accounts from Requirement 1. Add Subtotal Less Requirement 4. Prepare the balance sheet of Interiors by Deb, Inc., at April 30, 2018 Start with the heading, then complete the asset portion of the statement, and finally, complete the liabilities and stockholders' equity sections of the statement. (If a box is not used in the balance sheet leave the box empty, do not enter a zero Review the ending balances of the accounts from Requirement 1. Assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total assets Total liabilities and stockholders' equity