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On Augen Transactions occurred. the ist 31, the balance sheet of Orice Company showed Cash 511,000, Accounts Receivable $2,700, Supplies $600, Eq-ipment $5,000, Accounts Payable
On Augen Transactions occurred. the ist 31, the balance sheet of Orice Company showed Cash 511,000, Accounts Receivable $2,700, Supplies $600, Eq-ipment $5,000, Accounts Payable $5,600, Common Stock $14,800, end Rete ined Earnings 5900. During September, 1. 2. 3 4 Paid $2,950 cash for accounts payable due. Collected 52,000 of accounts recelvable. Purchased aciditonal equipment for $1,550, paying S750 in cash and the balance on account. Recognized revenue of $2,500, of which 53,400 is collected in cash and the balance is due in October. Declared and paid a $2,000 cash dividend. Paid salaries $2,200, rent for September $1,250, and advertising expense $200. Incurred utilities expense for month on account S210. Recelved 513,000 from Capital Bank on a 6-month note payable. 5. 7. B. Prepare a tabular analysis of the September transactions beginning with August 31 balances. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Oriole Company Assets Liabilities Stockholders' Equity Accounts Notes Accounts Common Retained Cash Receivable Supplies Equipment Payable Payable Revenues Dividends Stock Earnings Expenses + + Bal 1. 2 Cash Receivable Supplies Equipment Payable Payable Stock Earnings Revenues Expenses Dividends Bal $ 5 1. 2. 2. 4. 5. 5 Salaries and wages expense Rent expense Advertising expense Prepare an income statement for September. Oriole Company Income Statement v $ Prepare a retained earnings statement for September. (List items that increase retained earnings first.) Oriole Company Retained Earnings Statement tA Oriole Company Balance Sheet Assets $ $ Liabilities and Stockholders' Equity $ $ I $
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