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to n d. Paid rent on office and e. Paid creditors on account, $900, Q. Paid Liabilities Item Cash
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Joy tucker Assets LiabiltiesStockholders Equity Item Cash + Accts Rec + Supplies = Accts Payable + Common stock- Dividends + Fees Earned- Rent Exp-Automobile Exp -Misc Exp- Salaries Exp- Supplies Exp 45,000+ 45,000 +1,990 1,990+ 5,450+ 2,440)+ 900) + 5,450 2,440 900) + +4,520+ 4,520 (810) + (1,720)+ 540 270 - 1720 (810)- 810 1,630 + 1,630+ (1,630) + Balance 42,950 + 4,520 + 1,180 1,090 + 45,000- 9,970 2,440 540 270 1,720 810 Req 2 Stockholders Equity is the right of stockholders to assets of business. They are increased by issuance of capital and revenues and decreased by dividends and expenses.Reg 3 Joy Tucker Income Statement Fees Earned Expenses Rent expense Automobile expense Salaries expense Supplies expense Misc expense Total Expenses Net Income 9,970 2,440 540 1,720 810 270 5,780 4,190 How much did Sep transactions (1-j) increase or decrease retained earnings Increase by S2,560 Statement of Retained Earnings Net Profit Less Dividends Retained Earnings 4,190 1,630 2,560

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