Exercise 3-5 (Part Level Submission)

A tabular analysis of the transactions made during August 2017 by Carla Vista Co. during its first month of operations is shown below. Each increase and decrease in stockholders equity is explained.

prepare an income statement for August.

Prepare an income statement for August.

CARLA VISTA CO. Income Statement choose the accounting period August 31, 2017For the Year Ended August 31, 2017For the Month Ended August 31, 2017
select an opening name for section one DividendsExpensesNet Income / (Loss)Retained Earnings, August 1Retained Earnings, August 31RevenuesTotal ExpensesTotal Revenues
enter an income statement item		$enter a dollar amount
select an opening name for section two DividendsExpensesNet Income / (Loss)Retained Earnings, August 1Retained Earnings, August 31RevenuesTotal ExpensesTotal Revenues
enter an income statement item	$enter a dollar amount
enter an income statement item	enter a dollar amount
enter an income statement 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		enter a total of the three previous amounts
select a closing name for this statement DividendsExpensesNet Income / (Loss)Retained Earnings, August 1Retained Earnings, August 31RevenuesTotal ExpensesTotal Revenues		$enter a total net income or loss amount

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		Assets							=	Liabilities	+	Stockholders Equity
		Cash	+	A/R	+	Supp.	+	Equip.	=	Accounts Payable	+	Common Stock	+	Retained Earnings
														Revenues		Expenses		Dividends
(1)		$19,100										$19,100							Com. Stock
(2)		2,050						$5,050		$3,000
(3)		730				$730
(4)		4,000		$5,400										$9,400					Serv. Rev.
(5)		1,900								1,900
(6)		2,200																$2,200	Div.
(7)		720														$720			Rent Exp.
(8)		520		520
(9)		3,800														3,800			Sal. Exp.
(10)										390