On April 1, Sage Hill Inc. was established. These transactions were completed during the month. 1. Stockholders invested $30,600 cash in the company in exchange for common stock. 2. Paid $870 cash for...

On April 1, Sage Hill Inc. was established. These transactions were completed during the month.

1.		Stockholders invested $30,600 cash in the company in exchange for common stock.
2.		Paid $870 cash for April office rent.
3.		Purchased office equipment for $2,980 cash.
4.		Purchased $140 of advertising in theChicago Tribune, on account.
5.		Paid $350 cash for office supplies.
6.		Performed services worth $12,700. Cash of $3,400 is received from customers, and the balance of $9,300 is billed to customers on account.
7.		Paid $400 cash dividends.
8.		PaidChicago Tribune amount due in transaction (4).
9.		Paid employees’ salaries $1,380.
10.		Received $9,300 in cash from customers billed previously in transaction (6).

Prepare a tabular analysis of the above transactions. Include margin explanations for any changes in Retained Earnings. (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 3-4 for example.)<br>SAGE HILL INC.<br>Liabilities<br>Stockholders' Equity<br>Assets<br>Cash<br>+ Accounts Receivable<br>+ Supplies<br>+ Equipment<br>= Accounts Payable<br>+ Common Stock<br>Retained Earnings<br>Dividends<br>Revenues<br>Expenses<br>2$<br>$4<br>2$<br>$4<br>24<br>2$<br>2$<br>(1)<br>(2)<br>(3)<br>(4)<br>(5)<br>(6)<br>(7)<br>(8)<br>(9)<br>(10)<br>

Extracted text: Prepare a tabular analysis of the above transactions. Include margin explanations for any changes in Retained Earnings. (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 3-4 for example.) SAGE HILL INC. Liabilities Stockholders' Equity Assets Cash + Accounts Receivable + Supplies + Equipment = Accounts Payable + Common Stock Retained Earnings Dividends Revenues Expenses 2$ $4 2$ $4 24 2$ 2$ (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Prepare a tabular analysis of the above transactions. Include<br>margin explanations for any changes in Retained Earnings. (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 3-4 for example.)<br>SAGE HILL INC.<br>Stockholders' Equity<br>Liabilities<br>Assets<br>+ Supplies<br>+ Equipment<br>= Accounts Payable<br>+ Common Stock<br>Retained Earnings<br>+ Accounts Receivable<br>Cash<br>Dividends<br>Revenues<br>Expenses<br>2$<br>2$<br>2$<br>$4<br>$4<br>2$<br>24<br>(1)<br>(2)<br>(3)<br>(4)<br>(5)<br>(6)<br>(7)<br>(8)<br>(9)<br>(10)<br>

Extracted text: Prepare a tabular analysis of the above transactions. Include margin explanations for any changes in Retained Earnings. (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 3-4 for example.) SAGE HILL INC. Stockholders' Equity Liabilities Assets + Supplies + Equipment = Accounts Payable + Common Stock Retained Earnings + Accounts Receivable Cash Dividends Revenues Expenses 2$ 2$ 2$ $4 $4 2$ 24 (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Jun 08, 2022

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On April 1, Sage Hill Inc. was established. These transactions were completed during the month. 1. Stockholders invested $30,600 cash in the company in exchange for common stock. 2. Paid $870 cash for...

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