Unformatted text preview: balance on account. 5. Paid salaries $9,000, rent for August $2,700, and advertising expenses $1,050. 6. Paid cash dividend of $2,250. 7. Received $6,000 from National Bank - money borrowed on a note payable. 8. Incurred utility expenses for month on account $750. Instructions (a) Prepare a tabular analysis of the August transactions beginning with July 31 balances. The column headings should be as follows: Cash + Accounts Receivable + Supplies + Office Equipment = Notes Payable + Accounts Payable + Common Stock + Retained Earnings (b) Prepare an income statement for August, a retained earnings statement for August, and a balance sheet at August 31....
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- Spring '11
- Balance Sheet, Generally Accepted Accounting Principles, office equipment, APOLLO BACCHUS