On October 1 2014 Kevin Bosley established Sunrise

Realty Kevin
On October 1, 2014, Kevin Bosley established Sunrise Realty. Kevin completed the following
transactions during the month of October:a. Opened a business bank account with a deposit of
$18,000 in exchange for capital stock.b. Purchased office supplies on account, $3,200.c. Paid
creditor on account, $1,800.d. Earned sales commissions, receiving cash, $36,750.e. Paid rent
on office and equipment for the month, $4,000.f. Paid dividends, $3,000.g. Paid automobile
expenses (including rental charge) for month, $2,500, and miscellaneous expenses, $1,200.h.
Paid office salaries, $3,750.i. Determined that the cost of supplies on hand was $1,550;
therefore, the cost of supplies used was $1,650.Instructions1. Indicate the effect of each
transaction and the balances after each transaction, using the following tabular headings:2.
Prepare an income statement for October, a retained earnings statement for October, and a
balance sheet as of October31.
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On October 1 2014 Kevin Bosley established Sunrise Realty Kevin
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