Detroit Roofing Company began operations in August and completed the following transactions during that first month of operations.

August	1	Detroit Roofing Companys stockholders invested $45,000 cash in the company.
	2	The company purchased $25,000 in office equipment. It paid $5,000 in cash and signed a note payable promising to pay the $1,000 over the next three years.
	2	The company rented office space and paid $3,000 cash for the August rent.
	6	The company installed a new roof for a customer and immediately collected $5,000.
	7	The company paid a supplier $2,000 for roofing materials used on the August 6 job.
	8	The company purchased a $2,500 copy machine for office use on credit.
	9	The company completed work for additional customers on credit in the amount of $16,000.
	15	The company paid its employees salaries of $2,300 for the first half of the month.
	17	The company installed a new roof for a customer and immediately collected $2,400.
	20	The company received $10,000 in payments from the customers billed on August 9.
	28	The company paid $1,500 on the copy machine purchased on August 8. It will pay the remaining balance in June.
	31	The company paid its employees salaries of $2,400 for the second half of the month.
	31	The company paid a supplier $5,300 for roofing materials used on the remaining jobs completed during August.
	31	The company paid $450 cash for this months utility bill.

Required: Using the Excel Template, complete the following:

Show the effects of the transactions on the accounts using the accounting equation. Record increases and decreases in the appropriate columns in the table. Do not determine new account balances after each transaction. Determine the final total for each account and verify that the equation is in balance.