A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained.

Assets
= Liabilities
+ Stockholders' Equity

Cash
+ Accounts Receivable
+ Supplies
+ Office Equipment
= Accounts Payable
+ Common Stock
+ Retained Earnings

Rev.
- Exp.
- Div.

1. $20,000 $20,000 Com. Stock
2. -1,000 $5,000 $4,000
3. -750 $750
4. 4,400 $5,400 $9,800 Serv. Rev
5. -1,500 -1,500
6. -2,000 -2,000 Div.
7. -800 -800 Rent Exp.
8. 450 -450
9. -3,000 -3,000 Sal. Exp.
10. 500 -500 Util. Exp.


Determine how much stockholders' equity increased for the month.

$

Compute the net income for the month.

$

Quote:

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Originally Posted by Foo17

A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained.

Assets
= Liabilities
+ Stockholders' Equity

Cash
+ Accounts Receivable
+ Supplies
+ Office Equipment
= Accounts Payable
+ Common Stock
+ Retained Earnings

Rev.
- Exp.
- Div.

1. $20,000 $20,000 Com. Stock
2. -1,000 $5,000 $4,000
3. -750 $750
4. 4,400 $5,400 $9,800 Serv. Rev
5. -1,500 -1,500
6. -2,000 -2,000 Div.
7. -800 -800 Rent Exp.
8. 450 -450
9. -3,000 -3,000 Sal. Exp.
10. 500 -500 Util. Exp.


Determine how much stockholders' equity increased for the month.

$

Compute the net income for the month.

$

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AMHD doesn't do homework. If you post your answers someone will come along to help.

Ok I did the answers twice already ande they were incorrect. I had 8300 for the first answer and $3500 for the last answer.

Thanks for you reply, just needed guidance..

The amounts in numbers 1 through 10 have no meaning to the members.

For example number 1; did you issue common stock or is the amounts for cash and liabilities.

It would help the members if you wrote what the transaction is and how you recorded the transaction, so the members will be able to assist you.