In August 2020, Angela Martin started her new contracting business Stair at Me Inc The business focused on building staircases The following transactions occurred during August August 1 Angela invested $1,000 cash in exchange for 250 common shares 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 August 5 Purchased equipment $4,000 Paid $1,000 cash with the rest payable at the end of August August 10 Received and completed first staircase job a building on TRU Campus Received $4,000 cash August 12 Purchased supplies on account $200 August 13 Completed second job A chocolate maple staircase for a wealthy business man $6,000 on account August 14 Took a dividend of $500 to pay for personal expenses August 19 Received and paid the utilities bill, $250 August 20 Paid for the August 5 equipment purchase August 24 Received a $4,500 payment for the August 13 th job August 27 Completed third staircase job A steep walnut staircase with a slide $2,500 Received payment August 30 Paid $600 for the month of Augusts rent August 30 Received Augusts telephone bill $300 Did not pay yet August 31 Paid salaries of $5,000 for work completed by her employees Required Record all necessary journal entries based on the transactions above Post the transactions to T Accounts Prepare a trial balance dated August 31 Prepare an Income Statement, for the month ended August 31 Prepare a Statement of Changes in Shareholders Equity, for the month ended August 31 Prepare a Balance Sheet, as at August 31 In August 2020, Angela Martin started her new contracting business Stair at Me Inc The business focused on building staircases The following transactions occurred during August August 1 Angela invested $1,000 cash in exchange for 250 common shares 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 August 5 Purchased equipment $4,000 Paid $1,000 cash with the rest payable at the end of August August 10 Received and completed first staircase job a building on TRU Campus Received $4,000 cash August 12 Purchased supplies on account $200 August 13 Completed second job A chocolate maple staircase for a wealthy business man $6,000 on account August 14 Took a dividend of $500 to pay for personal expenses August 19 Received and paid the utilities bill, $250 August 20 Paid for the August 5 equipment purchase August 24 Received a $4,500 payment for the August 13 th job August 27 Completed third staircase job A steep walnut staircase with a slide $2,500 Received payment August 30 Paid $600 for the month of Augusts rent August 30 Received Augusts telephone bill $300 Did not pay yet August 31 Paid salaries of $5,000 for work completed by her employees Required Record all necessary journal entries based on the transactions above Post the transactions to T Accounts Prepare a trial balance dated August 31 Prepare an Income Statement, for the month ended August 31 Prepare a Statement of Changes in Shareholders Equity, for the month ended August 31 Prepare a Balance Sheet, as at August 31

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In August 2020, Angela Martin started her new contracting business: Stair at Me Inc. The business focused on building staircases. The following transactions occurred during

In August 2020, Angela Martin started her new contracting business: Stair at Me Inc. The business focused on building staircases. The following transactions occurred during August:

August 1 Angela invested $1,000 cash in exchange for 250 common shares.

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.

August 5 Purchased equipment: $4,000. Paid $1,000 cash with the rest payable at the end of August.

August 10 Received and completed first staircase job a building on TRU Campus. Received $4,000 cash.

August 12 Purchased supplies on account: $200.

August 13 Completed second job: A chocolate maple staircase for a wealthy business man: $6,000 on account.

August 14 Took a dividend of $500 to pay for personal expenses.

August 19 Received and paid the utilities bill, $250.

August 20 Paid for the August 5 equipment purchase.

August 24 Received a $4,500 payment for the August 13^th job.

August 27 Completed third staircase job: A steep walnut staircase with a slide: $2,500. Received payment.

August 30 Paid $600 for the month of Augusts rent.

August 30 Received Augusts telephone bill: $300. Did not pay yet.

August 31 Paid salaries of $5,000 for work completed by her employees.

Required:

Record all necessary journal entries based on the transactions above.
Post the transactions to T-Accounts.
Prepare a trial balance dated August 31.
Prepare an Income Statement, for the month ended August 31.
Prepare a Statement of Changes in Shareholders Equity, for the month ended August 31.
Prepare a Balance Sheet, as at August 31.
In August 2020, Angela Martin started her new contracting business: Stair at Me Inc. The business focused on building staircases. The following transactions occurred during August:

August 1 Angela invested $1,000 cash in exchange for 250 common shares.

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.

August 5 Purchased equipment: $4,000. Paid $1,000 cash with the rest payable at the end of August.

August 10 Received and completed first staircase job a building on TRU Campus. Received $4,000 cash.

August 12 Purchased supplies on account: $200.

August 13 Completed second job: A chocolate maple staircase for a wealthy business man: $6,000 on account.

August 14 Took a dividend of $500 to pay for personal expenses.

August 19 Received and paid the utilities bill, $250.

August 20 Paid for the August 5 equipment purchase.

August 24 Received a $4,500 payment for the August 13^th job.

August 27 Completed third staircase job: A steep walnut staircase with a slide: $2,500. Received payment.

August 30 Paid $600 for the month of Augusts rent.

August 30 Received Augusts telephone bill: $300. Did not pay yet.

August 31 Paid salaries of $5,000 for work completed by her employees.

Required:
Record all necessary journal entries based on the transactions above.
Post the transactions to T-Accounts.
Prepare a trial balance dated August 31.
Prepare an Income Statement, for the month ended August 31.
Prepare a Statement of Changes in Shareholders Equity, for the month ended August 31.
Prepare a Balance Sheet, as at August 31.