Respuesta :
Answer:
Explanation:
Income statement
Sales commission 52,800
Expenses :
Rent expense -4,500
Automobile expense -1,100
Miscellaneous expense -1,200
Office salaries -5,250
Supplies expense -1,000
Net income $39,750
Western Realty
Statement of Stockholders' Equity
For the month ended August 31, 2019
Common Stock Retained Earnings Total
1 Balances, August 1,2019 35,000 35,000
2 Net income 39,750 39,750
3 Dividends -3,000 -3,000
4 Balance August 31, 2019 $35,000 $36,750 $71,750
The indication of the effect of each transaction of Western Realty for the first month of August, 20Y9, and the inclusion of the account balances after each transaction are as follows:
Assets = Liabilities + Stockholders’
Equity
a. Cash + Common Stock $35,000 $0 + $35,000
Balances $35,000 $0 + $35,000
b. Supplies + Accounts Payable $2,750 $2,750
Balances $37,750 $2,750 + $35,000
c. Accounts Payable + Cash -$1,800 -$1,800
Balances $35,950 $950 + $35,000
d. Cash + Sales Commissions $52,800 $52,800
Balances $88,750 $950 + $87,800
e. Rent Expense + Cash -$4,500 -$4,500
Balances $84,250 $950 + $83,300
f. Dividends + Cash -$3,000 -$3,000
Balances $81,250 $950 + $80,300
g. Automobile Expenses + Cash -$1,100 -$1,100
Balances $80,150 $950 + $79,200
g. Miscellaneous Expenses + Cash -$1,200 -$1,200
Balances $78,950 $950 + $78,000
h. Salaries Expense + Cash -$5,250 -$5,250
Balances $73,700 $950 + $72,750
i. Supplies Expense + Supplies -$1,000 -$1,000
Balances $72,700 $950 + $71,750
Data Analysis:
a. Cash $35,000 Common Stock $35,000
b. Supplies $2,750 Accounts Payable $2,750
c. Accounts Payable $1,800 Cash $1,800
d. Cash $52,800 Sales Commissions $52,800
e. Rent Expense $4,500 Cash $4,500
f. Dividends $3,000 Cash $3,000
g. Automobile Expenses $1,100 Cash $1,100
g. Miscellaneous Expenses $1,200 Cash $1,200
h. Salaries Expense $5,250 Cash $5,250
i. Supplies Expense $1,000 Supplies $1,000
Summary of Account Balances:
Cash = $70,950 ($72,700 - $1,750)
Supplies = $1,750($2,750 - $1,000)
Accounts payable = $950 ($2,750 - $1,800) CR
Common Stock = $35,000 CR
Sales Commissions = $52,800 CR
Rent Expense = $4,500
Dividends = $3,000
Automobile Expense = $1,100
Miscellaneous Expenses = $1,200
Salaries Expense = $5,250
Supplies Expense = $1,000
Totals $88,750 $88,750
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