I need a balance sheet based on the above information.

Unit 2 Basic Journal EOntries, T. Example (New Company) Accounts, Trial Balance A I SE + + DR CR DR CR DRCR Rev = CR Exp = DR Div - DR In August, Maria Chen started her new taxidermy business: The Right Stuff Inc. The business focused on preserving family pets after they passed away. The following transactions occurred during August: August 1 Maria invested $1,000 cash in exchange for 250 common shares. Aug 1 DR CR Cash 1000 Common shares 1000 1 August 1 Rented workspace. Paid $600 for the month of August. Aug 1 DR CR Cash 600 Rent expense 600 August 2 The company borrowed $5,000 in the form of a long-term bank loan. The money was planned to purchase much of the equipment that would be needed. Aug 2 DR CR Cash 5000 Bank Loan payable 5000 August 5 Purchased equipment: $4,000. Paid $1,000 with the rest payable at the end of August. Aug 5 DR CR Equipment 4000 Cash 1000 Accounts payable 3000 August 10 Received and completed first taxidermy job - a poodle named Rex. Received $400 cash. Aug 10 DR CR Cash 400 Taxidermy Rev 400 August 12 Purchased supplies on account: $200. Aug 12 DR CR Supplies 200 200 August 13 Completed second taxidermy job: A chocolate Labrador retriever named KitKat: $600 on account. Aug 13 DR CR A/R 600 Taxidermy Rev 600 August 14 Maria took a cash dividend of $500 to pay for personal expenses. Aug 14 DR OR Dividend 500 Cash 500 August 19 Received and paid the utilities bill, $200. Aug 19 DR OR Utilities exp 200 Cash 200 August 20 Paid for the August 5 equipment purchase. DR CR Aug 20 Cash 3000 AP 3000 August 21 Received a telephone bill: $200. Did not pay yet. Aug 21 DR CR Telephone expense 200 200 August 24 Received payment for the August 13th job. Aug 24 DR CR Cash 600 AR 600 August 27 Completed third taxidermy job: A calico cat named Spot: $250. Received payment. Aug 27 DR CR Cash 250 Taxidermy Rev 250 August 31 Paid salaries of $1,000. Aug 31 DR CR 1000 Salaries exp Cash 1000 Required: a. Record all necessary journal entries based on the transactions above. b. Post the transactions to T-accounts, c. Prepare a trial balance dated August 31 Solution a. Journal Entries August 1 Maria invested $1,000 cash in exchange for 250 common shares. Aug 1 DR CR Cash 1000 Common shares 1000 August 1 Rented work space. Paid $600 for the month of August. Aug 1 DR CR Rent expense 600 Cash 600 August 2 The company borrowed $5,000 in the form of a long-term bank loan. The money was planned to purchase much of the equipment that would be needed. Aug 2 DR CR Cash 5000 Bank Loan payable 5000 August 5 Purchased equipment: $4,000. Paid $1,000 with the rest payable at the end of August. Aug 5 DR CR Equipment 4000 Cash 1000 Account payable 3000 August 10 Received and completed first taxidermy job - a poodle named Rex. Received $400 cash DR CR Aug 10 400 Cash Taxidermy Rev 400 Aug 12 August 12 Purchased supplies on account: $200 DR CR Supplies 200 I A/P 200 August 13 Completed second taxidermy job: A chocolate Labrador retriever named KitKat: $600 on account. Aug 13 DR CR AR 600 Taxidermy Rev 600 August 14 Maria took a cash dividend of $500 to pay for personal expenses. Aug 14 CR Dividend 500 DR Cash soo August 19 Received and paid the utilities bill, $200. Aug 19 DR CR Utilities exp 200 Cash 200 August 20 Paid for the August 5 equipment purchase. Aug 20 DR CR Cash 3000 August 21 Received a telephone bill: $200. Did not pay yet. DR CR Aug 21 200 Telephone expense A/P 200 August 24 Received payment for the August 13th job. DR CR Aug 24 Cash 600 AR 600 August 27 Completed third taxidermy job: A calico cat named Spot: $250. Received payment. DR CR Aug 27 Cash 250 250 Taxidermy Rev August 31 Paid salaries of $1,000. Aug 31 DR CR 1000 Salaries exp 1000 Cash AR b. T-Accounts. Cash 1000 600 600 600 5000 1000 400 500 600 200 250 3000 | 1000 Bank Loan Equipment 4000 5000 A/P Common Shares 1000 3000 3000 200 200 Rent Expenses 600 Taxidermy Revenue 400 600 Supplies 200 250 Telephone Expenses 200 Dividends Salaries Expense 1000 500 Utilities Expense 200 c. Trial balance dated August 31. The Right Stuff, Inc. Trial Balance for the month ended by Aug 31. DR CR Cash $950 200 O 4000 Supplies AR Equipment A/P Bank loan payable Common shares 400 5000 1000 RE 0 500 1250 600 Dividends Taxidermy Revenue Rent Expense Telephone Expense Utilities Expense Salaries Expense 200 200 1000