I cant seem to get my cash to be $4050 or retained earnings $4200. I think #3 is my problem. Any insight would be great.


During August the following transactions occurred

1.Collected $1,500 of accounts receivable due from customers
Cash = 1500 Retained Earning =1500
2.Paid $2700 cash for accounts payable due.
Cash -2700 AP= 2700
*3.Earned revenue of $6400 of which $3000 is collected in cash and the balance is due in September.
Cash = $3000 AR= 3400 Retained Earning 6400
4.Purchased additional office equipment for $2000 paying $400 in cash and the balance on account.
Office eq= 2000 AP = 1600 Retained Earnings 400
5.Paid salaries $1400, rent for August $900, and advertising expenses $350.
Cash -1400 Retained Earnings -1400
Cash -900 Retained Earnings -900
Cash -350 Reetained Earnings -350
6.Declared and paid a cash dividend of $700.
Cash -700 Retained Earnings -711
7.Received $2000 from Standard Federal Bank; the money borrowed on a 4 month note payable.
Cash 2000
8. Incurred utility expenses for the month on account $450.
Cash -450 Retained Earnings -450


Prepare tabular analysis of the August transaction beginning with July 31 balances. The column heading should be:
Cash + AR +Supplies + Office Equip. = Notes Payable + Acct Payable + Common Stock + Retained Earnings
Including margin explanation for any changes in retained earnings

:eek: