-55,000 Bal 47.600 7,000 2.400 50,000 110,000 -65,000 33,000 -10.000 800 4,500 4,500 47 800 2,500 3.400 50,000 55,000 31.000 -10,000 4500 4.800 +34,500 110,000 +34,500 144.500 Bal 47.000 34,500 2.500 3.400 50,000 55,000 33,000 -10.000 4,500 4.800 -15.000 20.000 34,500 2.500 2,400 -15,000 15,000 50,000 144,500 $5,000 33,000 10,000 4,500 4,800 Required 1. Prepare an income statement for the month ended Auly 31, 2018 Refer to the lists of Account Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading there is a net loss, enter that amount as a negative number using a minus sign. You will not need to enter colons() on the income statement 2. Prepare a ined coming statement for the month ended July 31, 2018. Refer to the list of Accounts, Label and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading "The word "Less or "Add is not needed in the Retained Earings Statement Enteral amounts as positive numbers an amount is zero, ender ! 3. Prepare a balonosheet as of July 31, 2018. Refer to the list of Accounts Labels and Amount Desorptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading 4. Prepare a statement of cash flow for the month ending July 31, 2018 Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading Enter amounts that represent cash outflows as a negative number using a minus sign. You will not need to enter colons() on the financial statements an amount is zero anter Child My Work arch Accounts, Labels and Amount Descriptions Income Statement Retained Earnings Statement Balance Sheet Assets bites + Stockholders' Equity Accounts Accounts Common Salaries Rent Auto Supplies Misc Cash +Receivable Supplies - Payable Dividends Eamed Expense - Expense Expense Expense - Expense 450.000 +50.000 +7.000 +7.000 7.000 50.000 50.000 7.000 -3000 -3.000 7.000 3.400 50,000 d . 110.000 110.000 Bal 158.400 7.000 3.400 50,000 110,000 33.000 33 000 Bal 123,400 7.000 3.400 50.000 110.000 33.000 20.000 -18000 4.800 Bal 102.600 7.000 3.400 50.000 110.000 -33.000 10.000 58.000 55.000 55.000 47 800 3,400 50.000 110.000 33.000 - 10.000 4300 7.000 -4.500 2.500 4500 47 500 3.400 50.000 55.000 33.000 - 10.000 4500 4000 .34,500 34.500 110.000 34.500 144.500 3 47000 4800 2.500 4800 3.400 55,000 60.000 30000 10.000 - 15 000 Instructions +50.000 +50,000 +7.000 +7.000 7,000 Bal. 50.000 50,000 7.000 -3.800 c. -3,000 Bal 46.400 7.000 3.400 50,000 d. +110.000 +110,000 Bal 158.400 7,000 3,400 50,000 110,000 33.000 -33.000 33,000 Bal 123.400 7.000 3.400 50,000 110,000 -20.800 - 10,000 -10,000 -4,800 102 800 33,000 3,400 7.000 50,000 110,000 -55,000 Bal 47.600 -55.000 55.000 3,400 50,000 110.000 33.000 -10,000 7.000 4.500 2.500 -4.500 4,500 50,000 3.400 55.000 -30.000 4.800 -18,000 Bal 47.600 110.000 .34.500 144.500 +34.500 34.500 33.000 55.000 -10,000 -4.500 4800 3.400 50,000 2.500 Bal 47 000 1.000 10.000 -4.500 -15.000 Bal 32.000 55.000 4.000 -15.000 14.500 50.000 3.400 34,500 2.500 the Required www wrong 2018 Refer to the the started band Amdan Derford to an wher e due to 2,500 3.400 50,000 55,000 33,000 -18,000 4,500 +34,500 34,500 110,000 +34,500 144,500 2,500 3.400 50,000 55,000 33,000 Bal 47,800 i -15,000 Bal. 32,600 -18,000 4,500 -4,80 34,500 2,500 3.400 50,000 -15.000 -15,000 144,500 55,000 33,000 -18,000 4,500 4.80 Required: 1. Prepare an income statement for the month ended July 31, 2018. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading there is a net loss, enter that amount as a negative number using a minus sign. You will not need to enter colons() on the income statement 2. Prepare a retained earings statement for the month ended July 31, 2018. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. "The word "Zess" or "Add" is not needed in the Retained Earnings Statement. Enter all amounts as positive numbers an amount is zero, enter 0 3. Prepare a balance sheet as of July 31, 2018. Refer to the lists of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading 4. Prepare a statement of cash flows for the month ending July 31 2018. Refer to the list of Accounts, Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading Enter amounts that represent cash outflows ? as a negative number using a minus sign. You will not need to enter colons() on the financial statements, an amount is zero enter Check My Work Instructions On August 1,2018, Brooke Kline established Western Realty. Brooke completed the following transactions during the month of August A Opened a business bank account with a deposit of $35,000 in exchange for common stock B. Purchased supplies on account. $2.750. C. Paid creditor on account, 31,800 D. Eamed sales commissions, receiving cash, $52.800. E Paid rent on office and equipment for the month, 34,500 F. Paid dividends, $3,000. G. Paid automobile expenses for month, $1,100, and miscellaneous expenses. 51.200. H. Paid office salaries. $5,250 I Determined that the cost of supplies on hand was $1,750, therefore, the cost of supplies used was 51.000. to Required: 1. Indicate the effect of each transaction and the balances affer each transaction using the fabular headings in the exhibit below. In each transaction row frows indicated by a letter, you must indicate the math signt or in columns affected by the transaction. You will not enter math signs in the balance rows (rows indicated by Bal) Entries of 0 (zero) are not required and will be cleared /entered Stockholders' Equity Assets Liabilities Supplies Miscellaneous Accounts Common Expense Payable Cash Stock - Commission e e expense Bapene CH V Labels, Accounts and Amount Descriptions Accounting Equation Grid Income Statement Retained Earnings Instructions On August 1, 2018, Brooke Kline established Western Realty. Brooke completed the following transactions during the month of August A Opened a business bank account with a deposit of $35,000 in exchange for common stock B. Purchased supplies on account $2,750 C. Paid creditor on account, 31,800 D. Eamed sales commissions, receiving cash. 552.800. E. Paid rent on office and equipment for the month, 34,500. F. Paid dividends, 53,000 G. Pald automobile expenses for month. 31.100, and miscellaneous expenses 31 200 H. Paid office salaries 55.250 Determined that the cost of supplies on hand was $1.750, therefore, the cost of supplies used was $1.000. Required: 1. Indicate the effect of each transaction and the balances after each transaction using the table headings in the the below in each transaction row (rows indicated by a letters, you must indicate the mathsign (tor) in columns affected by the transaction. You will not had to anter math signs in the balance rows frows indicated by Bal) Entresolo (zero) are not required and will be red andere Assets Liabilities Stockholders' Equity Auto Milano ben
