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Problem 1-4A (Part Level Submission)

Matt Stiner started a delivery service, Stiner Deliveries, on June 1, 2014. The following transactions occurred during the month of June.

June 1 Stockholders invested $14,493 cash in the business in exchange for common stock.
2 Purchased a used van for deliveries for $14,932. Matt paid $3,189 cash and signed a note payable for the remaining balance.
3 Paid $669 for office rent for the month.
5 Performed $4,502 of services on account.
9 Declared and paid $203 in cash dividends.
12 Purchased supplies for $109 on account.
15 Received a cash payment of $1,468 for services provided on June 5.
17 Purchased gasoline for $124 on account.
20 Received a cash payment of $1,385 for services provided.
23 Made a cash payment of $531 on the note payable.
26 Paid $122 for utilities.
29 Paid for the gasoline purchased on account on June 17.
30 Paid $1,255 for employee salaries.
 
 
Collapse question part

(a)

Show the effects of the previous transactions on the accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.)

STINER DELIVERIES
  
Assets
 = 
Liabilities
 + 
Stockholders' Equity
                Retained Earnings

Date
 

Cash
 + 
Accounts
Receivable
 + 

Supplies
 + 

Equipment
 = 
Notes
Payable
 + 
Accounts
Payable
 + 
Common
Stock
 + 

Revenues
 – 

Expenses
 – 

Dividends
June 1 $[removed] $[removed] $[removed] $[removed] $[removed] $[removed] $[removed] $[removed] $[removed] $ [removed]
                     
2 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
3 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
5 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
9 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
12 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
15 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
17 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
20 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
23 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
26 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
29 [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed] [removed]
                     
30 
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 [removed]
  
$[removed]
 
$[removed]
 
$[removed]
 
$[removed]
 = 
$[removed]
 
$[removed]
 
$[removed]
 
$[removed]
 
$[removed]
 
$[removed]
 

 

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