Question

Apr 10: Julla sold 500 shares of Scion stock, which she hadowed for several years, solving $5.000 cash. The cash from the sale of stock was deposited in her personal bank account Assets Stockholders' Cash AR * Sus Pure AP CS Retained carings Revenue Expo - Dividends LO Bal Apr 14: A representative of a large company tolophonod Julla and told her of the company's Intention to hire Just and Associates, Inc. as its accountants Assos = Uabilities - Stockholders' AR Sules Pum= AD CS Rocained oaming Revenue Expense Dividends 14) Bal Apr 20: Rinished accounting work for a client and sent the contabili for $3.500. The client is expected to pay within two wo Assets Labtes - Stockholders Supplies - Pum= Ар CS Round carings Rovo - penservices 20 Apr 27: Paldoceront 5700 AR .Suoplies - PE AP Stockholuity Roined camins Xe Divid 27 AD

Answer 1

Apr. 10: No Entry in firm's books because Julta's personal investment stocks were sold and deposited into her personal account. Apr. 14: No Entry in firm's books because informing about appointing accountants is just an event and doesn't qualify to be recorded as a transaction. Apr. 20: Shareholder's Equity Retained Earnings Assets Cash Supplies Furniture + + Revenue Expenses Dividends Accounts Receivable $3,500 $3,500 Liabilities Accounts Payable $0 $0 Common Stock $0 $0 + + $0 $0 $0 $0 $0 $0 $3,500 $3,500 $0 $0 $0 $0 Bal. + + Apr. 27: Shareholder's Equity Retained Earnings Assets Cash Supplies Furniture = + + Revenue Expenses Dividends Accounts Receivable $0 $3,500 Liabilities Accounts Payable $0 $0 Common Stock $0 $0 + + $700 -$700 $0 $0 $0 $0 $0 $3,500 $700 $700 $0 $0 Bal. + +