E3-4 A tabular analysis of the transactions made during August 2014 by Colaw Company Analyze...
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E3-4 A tabular analysis of the transactions made during August 2014 by Colaw Company Analyze transactions and during its first month of operations is shown below. Each increase and decrease in stock- compute net income. holders' equity is explained. (LO 1), AP Assets = Liabilities + Stockholders' Equity Accounts Common Stock Retained Earnings Exp. Cash + A/R Supp. + Equip. Payable + + Rev. Div. +$20,000 Com. Stock + $5,000 +$4,000 + $750 + $5,400 +$9,500 Serv. Rev. 1. +$20,000 2. - 1,000 3. -750 4. +4,100 5. - 1,500 6. -2,000 7. -800 8. +450 9. -3,000 - 1,500 -$2,000 Div. Rent Exp. - $ 800 -450 -3,000 - 300 Salar. Exp. Util. Exp. 10. + 300 Instructions (a) Describe each transaction. (b) Determine how much stockholders' equity increased for the month. (c) Compute the net income for the month
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