Rudy Gandolfi owns and operates Rudy's Furniture Emporium Inc. The balance sheet totals for assets, liabilities, and stockholders equity at August 1, 2019, are as indicated. Described here are several transactions entered into by the company throughout the month of August Required: a. Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided as an illustration Indicate the financial statement effect b. What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August? c. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? d. Which of the following statement(s) is/are true? Complete this question by entering your answers in the tabs below. Required A Required B Required Required Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totale for each category. The first transaction is provided as an utration. Indicate the financial statement effect. Enter decreases with a minus sign to indicate a negative financial statement effect. Leave no cells blank. Entero" wherever necessary) Assots i atleten Stockholder's Equity $ 459,000 745.000 5 206.000 16 000 6000 751 000 02000 S 59000 August 1. 2019 totals August) borrowed 516 000 in cash from the bank New total August I bought merchandise inventory valued at $16.000 on accoun Notas 1 0 55 500 cash for ring expenses Now totals Avant 14 recalved ss3000 in cash from sales of merchands that has cost $34.900 A News August 17 paid 513 000 owed on accounts payable Now totalt Augun 21 collected sig 600 of accounts rocotratto 24 repaid 14000 to the bank 20 rest Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided as an illustration. Indicate the financial statement effect. (Enter decreases with a minus sign to Indicate a negative financial statement effect. Leave no cells blank. Enter "0" wherever necessary.) Assets - Labine $ $ 745,000 16,000 761 000 286.000 16. 000 302 000 Stockholder's Equity S 459.000 0 $ 459,000 $ August 1, 2019 totals August 3, borrowed 516 000 in cash from the bank New totals August 7 bought merchandise inventory valued at $16,000 on account New totals August 10. paid $5.500 cash for operating expenses New totals August 14 received $53.000 in cash from sales of merchandise that had cost $34.900 New totals August 17. paid $13.000 owed on accounts payable New totals August 21 collected $19.500 of accounts receivable New Stats August 24 repaid $14.000 10 the bank plus 5280 interest New totals August 29. pald Rudy Gando a cash dividend of $4 000 August 31, 2019 totals Required >
