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Rudy Gandolfi owns and operates Rudy's Furniture Emporium Inc. The balance sheet totals for assets. liabilities, and stockholders equity at August 2019, are as indicated. Described here are several transactions entered into by the company throughout the month of August Required: a. Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided os an illustration Indicate the financial statement effect, b. What was the amount of net income for loss) during August? How much were total revenues and total expenses during August c. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? d. Which of the following statement(s) is/are true? Complete this question by entering your answers in the tabs below. Required A Required B Required Required Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided as an illustration. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect. Leave no cells blank. Enter "o" wherever necessary.) Assets Liabilities $ $ 755 000 13.500 768,500 284,000 13,500 297,500 Stockholder's Equity $ 471,000 0 $ 471.000 $ 5 August 1, 2019 total August 3, borrowed $13,500 in cash from the bank New total August 7, bought merchandise inventory valued at $16,000 on account New total August 10, paid 56,000 cash for operating expenses New total August 14. received 552,000 in cash from sales of merchandise that had cost $34 320 $ 768,500 $ 297,500 $ 471.000 S 768,500 $ 297,500 $ 471,000 $ 768,500 $ 297 500 5 471.000 S 768.500 $ 297 500 $ 471,000 Now lotas August 17 paid $12,000 owed on accounts payable New total August 21, collected 517 500 of accounts receive New total August 24. paid $14.000 to the bank, plus 5250 interest New to August 29. ad Rudy Gondom a cash dividend of 54.000 August 31, 2018 tot $ 768 500 5 297 500 5 471,000 $ 768,500 5 297,500 s 471.000 5 768 500 5 297 500 S 471,000 Required B> Rudy Gandolfi owns and operates Rudy's Furniture Emporium Inc. The balance sheet totals for assets, liabilities, and stockholders' equity at August 1, 2019, are os indicated. Described here are several transactions entered into by the company throughout the month of August Required: a. Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided as an illustration. Indicate the financial statement effect b. What was the amount of net income for loss) during August? How much were total revenues and total expenses during August? c. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? d. Which of the following statement(s) is/are true? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D How much were total revenues and total expenses during August? What was the amount of net income (or loss) during August? Total revenues Total expenses Rudy Gandolfi owns and operates Rudy's Furniture Emporium Inc. The balance sheet totals for assets, liabilities, and stockholders' equity at August 1, 2019, are as indicated. Described here are several transactions entered into by the company throughout the month of August Required: Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided as an illustration. Indicate the financial statement effect b. What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August? c. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? d. Which of the following statement(s) is/are true? Complete this question by entering your answers in the tabs below. Required A Required B Required c Required D What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? Net Change Total assets Total liabilities Total stockholder's equity Rudy Gandolfi owns and operates Rudy's Furniture Emporium Inc. The balance sheet totals for assets, liabilities, and stockholders' equity at August 1, 2019, ore as indicated. Described here are several transactions entered into by the company throughout the month of August Required: a. Indicate the amount and effect of each transaction on total ossets, total liabilities, and total stockholders' equity, and then compute the new tools for each category. The first transaction is provided as an illustration Indicate the financial statement effect, b. What was the amount of net income for loss) during August? How much were total revenues and total expenses during August? c. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? d. Which of the following statement(s) is/are true? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Which of the following statement(s) is/are true? Revenues decreased Rudy Gandolfi's equity, and expenses and dividends increased it Interest is a "cost" of doing business Dividend is a "cost of doing business Cash balance will be affected while paying off an accounts payable and collecting an accounts receivable When money is borrowed from the bank, the total assets and the total liabilities will increase