Prepare a tabular analysis of the transactions using these column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Common Stock, and Retained Earnings (with separate columns for Revenues, Expenses, and Dividends). Include margin explanations for any changes in Retained Earnings......BOTH ON SHEET 1 & 2

On January 1 Picture Perfect was established. These transactions were completed during the month. 1. Stockholders invested 2. Paid 3. Purchased office equipment for 4. Purchased 5. Paid 6. 7. Earned $15,000 for services provided: Cash of $5,000 is received from customers, and the balance of $10,000 is billed to customers on account. Paid $500 cash dividends. 8. Paid Chicago Tribune amount due in transaction (4). 9. Paid employees' salaries $1,200 $20,000 cash for April office rent. $400 $650 cash in the company in exchange for common stock. $2,500 cash. of advertising in the Chicago Tribune, on account. cash for office supplies. 10. Received $10,000 transaction (6). $3,500 in cash from customers who have previously been billed in Instructions: (a) Prepare a tabular analysis of the transactions using these column headings: Cash, Accounts Receivable, Supplies, Equipment, Accounts Payable, Common Stock, and Retained Earnings (with separate columns for Revenues, Expenses, and Dividends). Include margin explanations for any changes in Retained Earnings. Assets Liabilities = Stockholders' Equity + + Retained Earnings Expenses - + + - + + - + + - = + + - - + = + + - - + + = + + - - + + + = + + - - + + + = + + - - + Formula + + Formula + + Formula + = Formula = Cash $20,000 + Accounts Receivable + Supplies + Equipment Accounts Payable + + + = + (1,200) + + + = (2,500) + + + = + + + = + + + + + + 2,500 400 Formula + + Common Stock $20,000 Formula rom an analysis of the Retained Earnings columns, compute the net income or net loss for January. Account title Amount Or Title Expenses Less: Title Account title Amount Net income Account title Amount Account title Amount Formula Net income Formula + + + Revenues Formula - (1,200) Dividends - Explanations Rent Expense (400) Formula #VALUE! Amount Amount Formula - - Advertising Expense Formula On January 1 Picture Perfect was established. These transactions were completed during the month. 1. Stockholders invested $20,000 cash in the company in exchange for common stock. Cash 20,000 20,000 Common Stock 2. Paid $1,200 cash for April office rent. Rent Expense Cash 3. 1,200 1,200 $2,500 Cash 20,000 2,500 Purchased office equipment for Equipment Cash 4. Cash ### Cash 20,000 cash. 2,500 Purchased $400 400 400 Accounts Payable ### 5. Paid 6. Earned $15,000 for services provided: Cash of $5,000 is received from customers, and the balance of $10,000 is billed to customers on account. 7. Paid 8. Paid Chicago Tribune amount due in transaction (4). 9. Paid employees' salaries $500 cash for office supplies. cash dividends. 10. Received $10,000 transaction (6). 1,200 2,500 of advertising in the Chicago Tribune, on account. Advertising Expense Accounts Payable $650 1,200 $3,500 in cash from customers who have previously been billed in