Save Save & Exit Sub Class 5 Chap 3 Adj entry/accteg #2 (2 pts) Help 1. On April 1, received 519,600 in advance for services to be performed evenly over the next 12 months 2. Provided accounting services for cash of $65,500, 3. Purchased office supplies on account for $1,500 4. Pald $1,350 on accounts payable 5. Paid dividends to stockholders of $5,300 6. Paid $19,800 for miscellaneous expenses. 7. On Dec 31, recorded adjusting entry for supplies used supplies on hand were $125. 8. On Dec. 31. recorded adjusting entry for services performed related to 1 above. (Hint How much of the total received on April for 12 months) has been earned by Dec. 3171 1 2 Required Show the effects of the events on the financial statements using the accounting equation. The first event has been recorded as an example. (Do not round Intermediate calculations, For Assets, Liabilities, Stockholders' Equity in the Balance Sheet, enter decreases in accounts with a negative sign (-). For Expenses in the Income Statement, negative signs are not necessary in the column that says Expenses but are needed in the column that says Net Income. Leave the space blank if not affected, BEFORE YOU SUBMIT, CHECK THAT ASSETS - LIABILITIES + STOCKHOLDERS' EQUITY) CPA RUS Effect of Transactions on the Financial Statements for Your 1 Balance Sheet Income Statement Liabilities stockholders Revenue Equity Expense Accounts Deferred Retained Payable Revenue Earnings 19.600 Net Income Transaction Supplies - Cash 19,000 1 2 . + + 5 0. 7. 8 The nl. to mi 10