E 1-8 An analysis of the transactions made by S. Moses & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $ 650 for rent, $ 4,900 for salaries, and $ 500 for utilities. Accounts Office Accounts S. Moses, S. Moses, Cash + Receivable + Supplies + Equipment = Payable + Capital - Drawings + Revenues - Expenses 1.$15,000 $15,000 2. (2,000) $5,000 $3,000 3. (750) $750 4.4,600 $3,700 $8,300 5. (1,500) (1,500) 6. (2,000) ($2,000) 7. (650) ($650) 8. 450 (450) 9.(4,900) (4,900) 10. 500 (500) Instructions (a) Describe each transaction that occurred for the month. (b) Determine how much owner's equity increased for the month. (c) Compute the amount of net income for the month. E 1-9 An analysis of transactions for S. Moses & Co. was presented in E 1-8. Instructions Prepare an income statement and an owner's equity statement for August and a balance sheet at August 31, 2010. E 1-8 An analysis of the transactions made by S. Moses & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $ 650 for rent, $ 4,900 for salaries, and $ 500 for utilities. Accounts Office Accounts S. Moses, S. Moses, Cash + Receivable + Supplies + Equipment = Payable + Capital - Drawings + Revenues - Expenses 1.$15,000 $15,000 2. (2,000) $5,000 $3,000 3. (750) $750 4.4,600 $3,700 $8,300 5. (1,500) (1,500) 6. (2,000) ($2,000) 7. (650) ($650) 8. 450 (450) 9.(4,900) (4,900) 10. 500 (500) Instructions (a) Describe each transaction that occurred for the month. (b) Determine how much owner's equity increased for the month. (c) Compute the amount of net income for the month. E 1-9 An analysis of transactions for S. Moses & Co. was presented in E 1-8. Instructions Prepare an income statement and an owner's equity statement for August and a balance sheet at August 31, 2010