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On August 1, 20Y9, Brooke Kline established Western Realty. Brooke completed the following transactions during the month of August: a. Opened a business bank account

image text in transcribedimage text in transcribed On August 1, 20Y9, Brooke Kline established Western Realty. Brooke completed the following transactions during the month of August: a. Opened a business bank account with a deposit of $27,000 in exchange for common stock. b. Paid rent on office and equipment for the month, $3,400. c. Paid automobile expenses for month, $1,450, and miscellaneous expenses, $900. d. Purchased office supplies on account, $1,250. e. Earned sales commissions, receiving cash, $22,000. f. Paid creditor on account, $750. g. Paid office salaries, $2,700. h. Paid dividends, $3,100. i. Determined that the cost of supplies on hand was $500; therefore, the cost of supplies used was $750. Required: 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headinqs: 1. Indicate the effect of each transaction and the balances after each transaction, using the following tabular headings: 2. a. Prepare an for August. 2. b. Prepare a statement of stockholders' equity for August. 2. c. Prepare a as of August 31

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