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An analysis of the transactions made by Larkspur, Inc., a certified public accounting firm, for the month of August, its first month of operations is
An analysis of the transactions made by Larkspur, Inc., a certified public accounting firm, for the month of August, its first month of operations is shown below. Assets Liabilities + Stockholders' Equity Retained Earnings + + + Accounts Receivable Cash + Supplies Accounts Payable Equipment Common + Stock +$14,300 Revenues Expenses Dividend 1. +$14,300 -2,200 + $4,700 +$2,500 2. 3. -750 +$750 4. +$3,900 +$7,600 Service Revenue 5. +3,700 -1,200 -1,600 -1,200 6. -$1,600 Rent Expense - 700 - $700 7. 8. 9. -450 +450 -3,900 -3,900 -600 Salaries/Wages Expense Utilities Expense 10. +600 Prepare an income statement for August. Larkspur, Inc. Income Statement S $ Prepare an retained earnings statement for August. (List items that increase retained earnings first.) Larkspur, Inc. Retained Earnings Statement S Prepare a balance sheet at August 31, 2020. (List Assets in order of liquidity.) Larkspur, Inc. Balance Sheet Assets $ $ Liabilities and Stockholders' Equity $ $ $
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