question archive Cindy Braun created a corporation providing legal services, Cindy Braun Inc, on July 1, 2014 On July 31 the balance sheet showed: Cash $ 2,000 ; Accounts Receivable $ 5,000 ; Supplies $ 400 ; Equipment $5,000 ; Accounts Payable $ 6,000 ; Common Stock $ 9,000 ; and Retained Earnings $ 1,000 During July the following transactions occurred Create a tabular analysis, income statement, retained earnings, and balance sheet Aug 1 Collected $ 2,000 of accounts receivable due from customers 4 Paid $ 1,000 cash for accounts payable due 9 Performed services worth $ 7,000 , of which $ 2,600 is collected in cash and the balance is due in September 15 Purchased additional office equipment for $ 2,500 , paying $ 390 in cash and the balance on account 19 Paid salaries $ 2,000 , rent for August $ 200 , and advertising expenses $ 150 23 Paid a cash dividend of $ 550 26 Borrowed $ 5,000 from Standard Federal Bank; the money was borrowed on a 4-month note payable 31 Incurred utility expenses for the month on account $ 150
Cindy Braun created a corporation providing legal services, Cindy Braun Inc, on July 1, 2014 On July 31 the balance sheet showed: Cash $ 2,000 ; Accounts Receivable $ 5,000 ; Supplies $ 400 ; Equipment $5,000 ; Accounts Payable $ 6,000 ; Common Stock $ 9,000 ; and Retained Earnings $ 1,000 During July the following transactions occurred Create a tabular analysis, income statement, retained earnings, and balance sheet Aug 1 Collected $ 2,000 of accounts receivable due from customers 4 Paid $ 1,000 cash for accounts payable due 9 Performed services worth $ 7,000 , of which $ 2,600 is collected in cash and the balance is due in September 15 Purchased additional office equipment for $ 2,500 , paying $ 390 in cash and the balance on account 19 Paid salaries $ 2,000 , rent for August $ 200 , and advertising expenses $ 150 23 Paid a cash dividend of $ 550 26 Borrowed $ 5,000 from Standard Federal Bank; the money was borrowed on a 4-month note payable 31 Incurred utility expenses for the month on account $ 150
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Cindy Braun created a corporation providing legal services, Cindy Braun Inc, on July 1, 2014 On July 31 the balance sheet showed: Cash $ 2,000 ; Accounts Receivable $ 5,000 ; Supplies $ 400 ; Equipment $5,000 ; Accounts Payable $ 6,000 ; Common Stock $ 9,000 ; and Retained Earnings $ 1,000 During July the following transactions occurred
Create a tabular analysis, income statement, retained earnings, and balance sheet
| Aug 1 | Collected $ 2,000 of accounts receivable due from customers |
| 4 | Paid $ 1,000 cash for accounts payable due |
| 9 | Performed services worth $ 7,000 , of which $ 2,600 is collected in cash and the balance is due in September |
| 15 | Purchased additional office equipment for $ 2,500 , paying $ 390 in cash and the balance on account |
| 19 | Paid salaries $ 2,000 , rent for August $ 200 , and advertising expenses $ 150 |
| 23 | Paid a cash dividend of $ 550 |
| 26 | Borrowed $ 5,000 from Standard Federal Bank; the money was borrowed on a 4-month note payable |
| 31 |
Incurred utility expenses for the month on account $ 150 |
