Question: please solve 1-4 on both pictures Obj. 4 Amy Austin established an insurance agency on March 1 of the current year and completed the following

please solve 1-4 on both pictures
please solve 1-4 on both pictures Obj. 4 Amy Austin established an
insurance agency on March 1 of the current year and completed the

Obj. 4 Amy Austin established an insurance agency on March 1 of the current year and completed the following transactions during March: 1. Opened a business bank account with a deposit of $50,000 in exchange for common stock. 2. Purchased supplies on account, $4,000. 3. Paid creditors on account, $2,300. 4. Received cash from fees earned on insurance commissions, $13,800. 5. Paid rent on office and equipment for the month, $5,000. 6. Paid automobile expenses for month, $1,150, and miscellaneous expenses, $300. 7. Paid office salaries, $2,500. 8. Determined that the cost of supplies on hand was $2,700; therefore, the cost of supplies used was \$1,300. 9. Billed insurance companies for sales commissions earned, $12,500. 10. Paid dividends, $3,900. - Instructions 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings: 2. Briefly explain why issuing common stock and revenues increased stockholders' equity, while dividends and expenses decreased stockholders* equity. 3. Determine the net income for March. 4. How much did March's transactions increase or decrease stockholders' equity? 1. Obj. 5 Jose Loder established Bronco Consulting on August 1, 20Y1. The effect of each transaction and the balances after each transaction for August follow: Instructions 2. Prepare an income statement for the month ended August 31,20Y1. 3. Prepare a statement of stockholders' equity for the month ended August 31,20Y1 4. Prepare a balance sheet as of August 31,20Y1

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