we are required to solve theses ( its calculation question not explaining )

• Step 7 Accounting Cycle Prepare Financial Statements

You are requested using the information of Step 1 to prepare the financial statements of your chosen business for the month of August 2020.

• Step 2 Accounting Cycle Journalize Business Transactions

You are requested to journalize the assumed transactions for your chosen business during the month of August 2020!

• Step 3 Accounting Cycle Post Business Transactions

Based on the work in step 2 of the accounting cycle [Journalize the transactions], You are requested to Post the assumed transactions for your chosen business during the month of August 2020

• Step 4 Accounting Cycle Prepare Trial Balance

Based on the work in step 3 of the accounting cycle [Post Business Transactions], You are requested to prepare the trial balance for your chosen business during the month of August 2020!

• Step 7 Accounting Cycle Prepare Financial Statements

Based on the work in step 4 of the accounting cycle [Prepare Trial Balance], You are requested to prepare the financial statements for your chosen business during the month of August 2020!

THE FOLLOWING ARE THE TRANSACTIONS OF MY OWN SMALL BUSINESS Num DATE TRANSACTION AMOUNT 1. 01/08/2020 Invested cash to start the agency. $35,000 2. 04/04/2020 Purchased equipment for cash. $3,700 3. 06/08/2020 $1,700 Incurred of advertising costs in the Gulf News, on account. 4. 13/08/2020 Paid cash for Mars office rent. $1,200 5. 14/08/2020 Paid employees' salaries. $3,200 6. 18/08/2020 Paid cash for office supplies. $1,200 7. 21/08/2020 Performed services worth cash is received from customers, and the balance of is billed to customers on account. $25,000 $12,000 $13,000 8. 22/08/2020 Withdrew cash for personal use. $1,200 9. 30/08/2020 Paid Gulf News of the amount due in transaction (3). $1,200 10. 31/08/2020 $7,000 Received in cash from customers who have previously been billed in transaction (7)