Use the business transactions below to: 1. Stockholders invest $40,000 in cash in starting a real estate office operating as a corporation.
2. Purchased $500 of supplies on credit.
3. Purchased equipment for $25,000, paying $3,500 in cash and signed a 30-day, $21,500, note payable.
4. Real estate commissions billed to clients amount to $4,000.
5. Paid $700 in cash for the current month's rent.
6. Paid $250 cash on account for office supplies purchased in transaction 2.
7. Received a bill for $800 for advertising for the current month.
8. Paid $2,500 cash for office salaries.
9. Paid $1,200 cash dividends to stockholders.
10. Received a check for $2,000 from a client in payment on account for commissions billed in transaction 4.
Prepare a tabular analysis of the transactions indicating the final balance of each item. (Enter negative amounts using either a negative sign preceding the number e. g. -45 or parentheses e. g. (45). Do not leave any answer field blank. Enter 0 for amounts.)
Trans. Cash+ Accts. Rec.+ Supplies+ Equip.= Notes Pay.+ Accts. Pay.+ Common Stock+ Service Rev.- Rent Exp.- Advert Exp.- Sal. & Wag-es Exp.- Div.