An analysis of transactions for S. Moses & Co. was presented in E1-8.

Instructions 

Prepare an income statement and an owner’s equity statement for August and a balance sheet at August 31, 2008.

Data from E1-8

An analysis of the transactions made by S. Moses & Co.,a certified public accounting firm, for the month of August is shown below. Each increase and decrease in owner’s equity is explained.

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Cash Accounts Receivable Supplies Office Equipment Accounts Payable Owner's Equity + S. Moses, Capital 1. +$15,000 +$15,000 Investment 23456N 2. -2,000 +$5,000 +$3,000 3. -750 +$750 4. +4,600 +$3,700 +8,300 Service Revenue 5. -1,500 -1,500 6. -2,000 -2,000 Drawings 7. -650 8. +450 -450 9. -4,900 +500 10. -650 Rent Expense -4,900 Salaries Expense -500 Utilities Expense