Reference no: EM132632061
Question - Current Attempt in Progress
On April 1, Metlock, Inc. was established. These transactions were completed during the month.
1. Stockholders invested $30,300 cash in the company in exchange for common stock.
2. Paid $760 cash for April office rent.
3. Purchased office equipment for $3,960 cash.
4. Purchased $310 of advertising in the Chicago Tribune, on account.
5. Paid $430 cash for office supplies.
6. Performed services worth $12,400. Cash of $2,100 is received from customers, and the balance of $10,300 is billed to customers on account.
7. Paid $490 cash dividends.
8. Paid Chicago Tribune amount due in transaction (4).
9. Paid employees' salaries $1,000.
10. Received $10,300 in cash from customers billed previously in transaction (6).
Required - SHOW tabular analysis of the above transactions. Include margin explanations for any changes in Retained Earnings.