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M1 Assignment
        Module 1 Assignment:
        Bill Smith opened Smith Construction on April 1, 20xx. The following amounts summarize the transactions and financial position of Smith construction as of May 31.
        During May the following transactions occurred:
        1-May    Smith received $10,000 as an inheritance and used it to buy stock in the company.
        7-May    Smith paid his accounts payable balance.
        15-May    Smith replaced some windows for a client and received $5,000 cash for his services
        17-May    Smith collected $1,200 from a customer for a job performed in April
        20-May    Smith purchased supplies for $1,000 on account
        24-May    Smith gave a bid to a customer and billed the customer for the services performed $800
        25-May    Smith sold $5,000 of company stock to his brother
        28-May    Smith paid wages to his workers of $1,800
        30-May    Smith paid office rent of $1,000
        30-May    Smith paid dividends to himself of $1,400
        Requirements:
        1    Enter the transactions for May into the accounting equation, calculating new balances after each entry.
            Assets                            =    Liabilities    +    Stockholders' Equity
            Cash    +    Accounts receivable    +    Supplies    +    Equipment        Accounts payable        Common stock    +    Service revenue    -    Salaries expense    -    Rent Expense    -    Dividends    +    Retained Earnings
        April...