Rudy Gandolfi owns and operates Rudys Furniture Emporium Incorporated. The balance sheet totals for assets, liabilities, and stockholders equity at August 1, 2022, are as indicated. Described here are several transactions entered into by the company throughout the month of August.

Required:

1. 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.
2. What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August?
3. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity?
4. Which of the following statement(s) is/are true?

Complete this question by entering your answers in the tabs below. What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August? Which of the following statement(s) is/are true? Complete this question by entering your answers in the tabs below. Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new category. The first transaction is provided as an illustration. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Leave no cells blank. Enter "0" wherever necessary. Complete this question by entering your answers in the tabs below. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? Complete this question by entering your answers in the tabs below. What was the amount of net income (or loss) during August? How much were total revenues and total expenses during August? Which of the following statement(s) is/are true? Complete this question by entering your answers in the tabs below. Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new category. The first transaction is provided as an illustration. Note: Enter decreases with a minus sign to indicate a negative financial statement effect. Leave no cells blank. Enter "0" wherever necessary. Complete this question by entering your answers in the tabs below. What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity