50.1K

Verified Solution

Link Copied!

The accounts for DX Company are listed below, identified by number. Following the list of accounts is a series of transactions recorded by DX Company. For each event, complete the table by showing the account title, and \$ amount effects, increase or (decrease) to the accounting equation. When revenues and expenses are affected, identify the appropriate revenue or expense account to be used. \begin{tabular}{|l|l|} \hline Cash & Capital Stock \\ \hline Accounts Receivable & Retained Earnings \\ \hline Office Supplies & Interest Revenue \\ \hline Accumulated Depreciation & Service Revenue \\ \hline Accounts Payable & Office Supplies Expense \\ \hline Unearned Service Revenue & Rent Expense \\ \hline Salaries and Wages Payable & SalariesandWagesExpense \\ \hline Income Tax Payable & Depreciation Expense \\ \hline & Advertising Expense \\ \hline & Income Tax Expense \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline & Assets & = Liabilities & +StockholdersEquityCapitalStock & StockholdersEquityRetainedEarnings+Revenues & \begin{tabular}{|c} Stockholders' \\ Equity \\ Retained \\ Earnings \\ - Expenses \end{tabular} \\ \hline a.Receivedcapitalcontributionof$40,000fromeachofthetwoprincipalownersinexchangeforsharesofstock. & & & & & \\ \hline b.PaidtherentforAprilincashintheamountof$4,000. & & & & & \\ \hline c.OnApril4,purchasedofficesuppliesonaccountintheamountof$2,500.Thesupplieswerenotusedyet. & & & & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|} \hline & Assets & = Liabilities & +StockholdersEquityCapitalStock & StockholdersEquityRetainedEarnings+Revenues & StockholdersEquityRetainedEarnings-Expenses \\ \hline a.Receivedcapitalcontributionof$40,000fromeachofthetwoprincipalownersinexchangeforsharesofstock. & & & & & \\ \hline b.PaidtherentforAprilincashintheamountof$4,000. & & & & & \\ \hline c.OnApril4,purchasedofficesuppliesonaccountintheamountof$2,500.Thesupplieswerenotusedyet. & & & & & \\ \hline d.Billedaclientfor$6,000forservicesrenderedonApril10. & & & & & \\ \hline e.Purchasedanadinthelocalnewspaperfor$500cash. & & & & & \\ \hline f.Received$6,000cashfromtheclientpreviouslybilledonApril10. & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline & & & & & \\ \hline \end{tabular}

Answer & Explanation Solved by verified expert

See Answer