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An analysis of the transactions made by Cheyenne Corp., a certified public accounting firm, for the month of August, its first month of operations is

An analysis of the transactions made by Cheyenne Corp., a certified public accounting firm, for the month of August, its first month of operations is shown below.



Assets = Liabilities + Stockholders’ Equity



Cash

 + 
Accounts
Receivable


 + 
Supplies

 + 
Equipment

Accounts
Payable


Common
Stock


Retained Earnings


 =   +   +  Revenues
 –  Expenses
 –  Dividend

1.
$15,850








$15,850






2.
–2,700




$5,700
$3,000








3.
 –750


$750












4.
6,300
$3,200








$9,500



Service Revenue
5.
–1,700






–1,700








6.
–1,400














-$1,400
7.
–750












–$750

Rent Expense
8.
350
–350














9.
–3,950












–3,950

Salaries/Wages Expense
10.








400




–400

Utilities Expense

Collapse question part(a)Prepare an income statement for August.

Cheyenne Corp.
Income Statement
Choose the accounting period  August 31, 2019For the Year Ended August 31, 2019For the Month Ended August 31, 2019
Select an opening name for section one  DividendsExpensesNet Income / (Loss)Retained earnings, August 1Retained earnings, August 31RevenuesTotal ExpensesTotal RevenuesInvestment


Select an item

$Enter a dollar amount
Select an opening name for section two  DividendsExpensesNet Income / (Loss)Retained earnings, August 1Retained earnings, August 31RevenuesTotal ExpensesTotal RevenuesInvestment


Select an item
$Enter a dollar amount

Select an item
Enter a dollar amount

Select an item
Enter a dollar amount

Select a closing name for section two     Dividends    Expenses    Net Income / (Loss)    Retained earnings, August 1    Retained earnings, August 31    Revenues    Total Expenses    Total Revenues    Investment    

Enter a total amount for section two
Select a closing name for this statement  DividendsExpensesNet Income / (Loss)Retained earnings, August 1Retained earnings, August 31RevenuesTotal ExpensesTotal RevenuesInvestment

$Enter a total amount for this statement
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