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Stacy-Ann Kelly owns and operates Kellys Furniture Emporium, Inc. The balance sheet totals for assets, liabilities, and stockholders equity at August 1, 2013, are as

Stacy-Ann Kelly owns and operates Kellys Furniture Emporium, Inc. The balance sheet totals for assets, liabilities, and stockholders equity at August 1, 2013, are as indicated. Described here are several transactions entered into by the company throughout the month of August.

a.

Indicate the amount 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.(Negative amounts should be indicated by a minus sign.)

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b.1

How much were total revenues and total expenses during August?

b.2

What was the amount of net income (or loss) during August?

c.

What were the net changes during the month of August in total assets, total liabilities, and total stockholders equity?

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