On April 1, 2014 Maria Adams etablished Custom Realty. Maria completed the following transactions during the month of Aplril
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 month $1,350 and misc. expenses $600
D. Purchased office supplies on account $1,200
E. Earned sales commissions, recieving cash $19,800
F. Paid creditor on account $ 750
G. Paid office salaries $2,500
H. withdrew cas for personal use $3,500
I. Determined that the cost of supplies on hand was $300; therefore; the cost of supplies used was $ 900
1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings
Assets = Liabilities + Owners Equity
Cash + Supplies = Accounts Payable + Capital - Drawing + sales Commissions - Rent - Salaries - Auto - Supplies - Misc.
2. Prepare an income statement for April, a statement of owners equity for April, and a nbalance sheet as of April 30