1. Jose Loder established Bronco Consulting on August 1, 20Y1. The effect of each transaction and the balances after each transaction for August follow:

   	Assets					=	Liabilities +	Stockholders' Equity
   	Cash	+	Accounts Receivable	+	Supplies	=	Accounts Payable	+	Common Stock	-	Dividends	+	Fees Earned	-	Salaries Expense	-	Rent Expense	-	Auto Expense	-	Supplies Expense	-	Misc. Expense
   a.	+45,790								+45,790
   b.					+3,980		+3,980
   Bal.	45,790				3,980		3,980		45,790
   c.	+44,870												+44,870
   Bal.	90,660				3,980		3,980		45,790				44,870
   d.	-12,400																-12,400
   Bal.	78,260				3,980		3,980		45,790				44,870				-12,400
   e.	-1,920						-1,920
   Bal.	76,340				3,980		2,060		45,790				44,870				-12,400
   f.			+31,600										+31,600
   Bal.	76,340		31,600		3,980		2,060		45,790				76,470				-12,400
   g.	-8,700																		-5,950				-2,750
   Bal.	67,640		31,600		3,980		2,060		45,790				76,470				-12,400		-5,950				-2,750
   h.	-18,300														-18,300
   Bal.	49,340		31,600		3,980		2,060		45,790				76,470		-18,300		-12,400		-5,950				-2,750
   i.					-2,300																-2,300
   Bal.	49,340		31,600		1,680		2,060		45,790				76,470		-18,300		-12,400		-5,950		-2,300		-2,750
   j.	-11,400										-11,400
   Bal.	37,940		31,600		1,680		2,060		45,790		-11,400		76,470		-18,300		-12,400		-5,950		-2,300		-2,750

   Required:

   1. Prepare an income statement for the month ended August 31, 20Y1.

   Bronco Consulting Income Statement For the Month Ended August 31, 20Y1

   Accounts receivableCommon stockCashDividendsFees earned		$- Select -
   Expenses:
   Accounts payableAccounts receivableCommon stockSalaries expenseSupplies	$- Select -
   Common stockCashDividendsFees earnedRent expense	- Select -
   Accounts payableAccounts receivableAuto expenseCashDividends	- Select -
   Common stockCashDividendsFees earnedSupplies expense	- Select -
   Accounts payableFees earnedLiabilitiesMiscellaneous expenseSupplies	- Select -
   Total expenses		fill in the blank 6480a504dfd9f94_13
   Net incomeNet loss		$- Select -

   2. Prepare a statement of stockholders equity for the month ended August 31, 20Y1. If an answer is zero, enter "0". If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign.

   Bronco Consulting Statement of Stockholders Equity For the Month Ended August 31, 20Y1

   	Common Stock	Retained Earnings	Total
   Balances, August 1, 20Y1Balances, August 31, 20Y1Common stockCashDividends	$- Select -	$- Select -	$- Select -
   Balances, August 1, 20Y1Balances, August 31, 20Y1Common stockCashIssued common stock	- Select -	- Select -	- Select -
   Balances, August 1, 20Y1Balances, August 31, 20Y1CashNet incomeNet loss	- Select -	- Select -	- Select -
   Balances, August 31, 20Y1CashCommon stockDividendsFees earned	- Select -	- Select -	- Select -
   Balances, August 1, 20Y1Balances, August 31, 20Y1Common stockCashFees earned	- Select -	- Select -	- Select -

   3. Prepare a balance sheet as of August 31, 20Y1. When entering assets, enter them in order of liquidity.

   Bronco Consulting Balance Sheet August 31, 20Y1

   Assets
   Accounts payableCommon stockCashFees earnedRetained earnings		$- Select -
   Accounts payableAccounts receivableDividendsFees earnedRetained earnings		- Select -
   Accounts payableCommon stockFees earnedRetained earningsSupplies		- Select -
   Total assets		$fill in the blank 960697057fcf036_7
   Liabilities
   Accounts payableAccounts receivableCommon stockFees earnedRetained earnings		$- Select -
   Stockholders' Equity
   Accounts receivableCommon stockCashFees earnedSupplies	$- Select -
   Accounts payableAccounts receivableCashDividendsRetained earnings	- Select -
   Total stockholders' equity		fill in the blank 960697057fcf036_14
   Total liabilities and stockholders' Equity		$fill in the blank 960697057fcf036_15

   4. Prepare a statement of cash flows for the month ending August 31, 20Y1. For those boxes in which no entry is required, enter "0". Use the minus sign to indicate cash outflows, cash payments, and decreases in cash.

   Bronco Consulting Statement of Cash Flows For the Month Ended August 31, 20Y1

   Cash flows from (used for) operating activities:
   Cash paid for dividendsCash received from customersCash received from issuing additional common stock	$- Select -
   Cash received from issuing additional common stockCash paid for dividendsCash paid for expenses and to creditors	- Select -
   Net cash flows from operating activitiesNet cash flows used for operating activities		$- Select -
   Cash flows from (used for) investing activities:		fill in the blank 3917d709107c030_7
   Cash flows from (used for) financing activities:
   Cash paid for expenses and to creditorsCash received from customersCash received from issuing common stock	$- Select -
   Cash paid for dividendsCash paid for expenses and to creditorsCash received from customers	- Select -
   Net cash flows from financing activitiesNet cash flows used for financing activities		- Select -
   Net decrease in cashNet increase in cash		$- Select -
   Cash balance, August 1, 20Y1Cash balance, August 31, 20Y1		- Select -
   Cash balance, August 1, 20Y1Cash balance, August 31, 20Y1		- Select -