Equation Grid Income Statement Statement of Stockhold Instructions On August 1, 2040. 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 $28,000 in exchange for common stock b. Paid rent on office and equipment for the month, $3,800 c. Paid automobile expenses for month, 1,300, and miscellaneous expenses, 3700 d. Purchased office supplies on account, 91,250 e Earned sales commissions, receiving cash, 518,400 1 Paid creditor on account, $750 g. Paid office salaries, 53,000 h. Paid dividends, $3,300 i Determined that the cost of supplies on hand was 3500, therefore, the cost of supplies used was 5750 Required: 1. Indicate the effect of each transaction and the balances after each transaction using the fabular headings in the exhibit below. In each transaction row (rows indicated by a better), you must indicate the math sign (+ or ) in columns affected by the transaction You will not need to enter math signs in the balance rows (rows indicated by Bat) Entries of 0 (zero) are not required and will be cleared if entered Assets Liabilities Stockholders' Equity Check My Work Account Derne Accounting Equation God Income Statement of School Balance Sheet Arling Assa Cash - - E Od My Wor Instructions Accounting Equation Grid Income Statement 2 a Prepare an income statement for August. Refer to the list of Accounts, Labels and Amount Descriptions for the exact the income statement. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Western Realty Income Statement (Label) 1 2 Label) 3 4 5 9 2 Check My Work N oblems eBook Transactions, financial statements Accounts, Labels and Amount Descriptions Accounting Equation Grid Income Statement Statemet Instructions Accounting Equation Grid Income Statement Statement of Stockholders' Equity SHEETA... SHEETA... 2b Prepare a statement of stockholders' equity for August. Refer to the list of Accounts, Labels and Amount Descriptions for the exact wording of the answ dividends were puid, enter that amount as a negative number using a minus sign If an amount is zero, ender 07 Western Realty Statement of Stockholders' Equity (Label) 1 Common Stock Retained Earnings Total 3 Check My Work Transactions, financial statements Accounts, Labels and Amount Descriptions Accounting Equation Grid Income Statement Stateme Instructions Accounting Equation Grid Income Statement Statement of Stockholders' Equity Balance Sheet Western Realty Balance Sheet (Label)
