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On September 1, 2023, Fast Track, Incorporated was started with $30,000 invested by the owners as contributed capital. On September 30, 2023, the accounting records
On September 1, 2023, Fast Track, Incorporated was started with $30,000 invested by the owners as contributed capital. On September 30, 2023, the accounting records contained the following amounts:
Accounts payable | $ 1,800 | Dividends declared and paid | $ 1,900 |
Accounts receivable | 2,200 | Office equipment | 25,000 |
Accumulated depreciation | 500 | Office supplies | 1,750 |
Cash | 10,000 | Office supplies expense | 600 |
Consulting fees revenue | 19,200 | Rent expense | 2,400 |
Common stock | 30,000 | Telephone expense | 250 |
Depreciation expense | 500 | Wages expense | 6,900 |
Required:
Prepare a statement of stockholders' equity for September, the first month of operation. Ignore income taxes.
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