Part A

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Part A. Indicate the effect of each transaction during the month of October 2016 and the balances for the accounting equation after all transactions have been recorded. No beginning balances exist in the accounts. An accounting equation has been provided.

 

	Opened a business bank account for Jones, Inc., with an initial deposit of $45,000 in exchange for common stock.
	Paid rent on the office building for the month, $2,000.
	Received cash for fees earned of $5,000.
	Purchased equipment, $7,000.
	Borrowed $20,000 by issuing a note payable.
	Paid salaries for the month, $1,000.
	Received cash for fees earned of $8,000.
	Paid dividends, $3,000.
	Paid interest on the note, $100.

Assets =                        Liabilities + Stockholders' Equity
	Cash	Equipment	Notes Payable	Common Stock	Retained Earnings
a.	45000			45000
b.	-2000				-2000
c.	5000				5000
d.	-7000	7000
e.	20000		20000
f.	-1000				-1000
g.	8000				8000
h.	-3000				-3000
i.	-100				-100
Bal.	64900	7000	20000	45000	6900

Part B: Using the information from Part A, prepare (1) an income statement, (2) a statement of stockholders' equity, (3) a balance sheet, and (4) a statement of cash flows for the month of October.

Part A has been solved. Now, I need help with part B.