Prepare an Income Statement for AugustEXPRESSIONSIncome StatementFor Month Ended August 31AccountnuesHaircutting Service Rev1855ating ExpensesRent Expense(500)Wages Expense(125)Total Operating Expenses(625)rofit1230Prepare a Statement of Changes in Equity for AugustEXPRESSIONSStatement of Changes in EquityFor Month Ended August 31hy's Capital0Investment by Owner18,000Net Profit 123019,23019,230Withdrawals by Owner(900)18,330re a Statement of Changes in Equity for AugustEXPRESSIONSStatement of Financial PositionAugust 31s2,330ure600Equipment16,200Assets19,130itiesPayable800yhy's Capital18,330otal liabilities and equity19130
Prepare general journal entries to record the transactions below for Dexter.Use the letters beside each transaction to identify entries.After recording the transactions, posta. Macy Dexter, owner, invested $12,750 cash in the company.b. The company purchased office supplies for $375 cash.c. The company purchased $7,050 of office equipment on credit.d. The company received $1,500 cash as fees for services provided to a customer.e. The company paid $7,050 cash to settle the payable for the office equipment purchased in trf. The company billed a customer $2,700 as fees for service provided.g. The company paid $525 cash for the monthly rent.h. The company collected $1,125 cash as partial payment for the account receivable created ini. Macy Dexter withdrew $1,000 cash from the company for personal use.Prepare Journal Entries to record these transactions:AccountDebitCredita.