Jose Loder established Bronco Consulting on August 1, 2016. The effect of each transaction and...
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Accounting
Jose Loder established Bronco Consulting on August 1, 2016. The effect of each transaction and the balances after each transaction for August follow:
Assets
=Liabilities
+ Owners Equity
Accounts
Accounts
Jose Loder,
Jose Loder,
Fees
Salaries
Rent
Auto
Supplies
Misc.
Cash
Receivable
+ Supplies
= Payable
+ Capital
- Drawing
+ Earned
- Expense
- Expense
- Expense
- Expense
- Expense
a.
+75,000
+75,000
b.
+9,000
+9,000
Bal.
75,000
9,000
9,000
75,000
c.
+92,000
+92,000
Bal.
167,000
9,000
9,000
75,000
92,000
d.
-27,000
-27,000
Bal.
140,000
9,000
9,000
75,000
92,000
-27,000
e.
-6,000
-6,000
Bal.
134,000
9,000
3,000
75,000
92,000
-27,000
f.
+33,000
+33,000
Bal.
134,000
33,000
9,000
3,000
75,000
125,000
-27,000
g.
-23,000
-15,500
-7,500
Bal.
111,000
33,000
9,000
3,000
75,000
125,000
-27,000
-15,500
-7,500
h.
-58,000
-58,000
Bal.
53,000
33,000
9,000
3,000
75,000
125,000
-58,000
-27,000
-15,500
-7,500
i.
-6,100
-6,100
Bal.
53,000
33,000
2,900
3,000
75,000
125,000
-58,000
-27,000
-15,500
-6,100
-7,500
j.
-15,000
-15,000
Bal.
38,000
33,000
2,900
3,000
75,000
-15,000
125,000
-58,000
-27,000
-15,500
-6,100
-7,500
Required:
1.
Prepare an income statement for the month ended August 31, 2016.*
2.
Prepare a statement of owners equity for the month ended August 31, 2016.*
3.
Prepare a balance sheet as of August 31, 2016.*
4.
Prepare a statement of cash flows for the month ending August 31, 2016.*
* Refer to the lists of Accounts in the information given, Labels, and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If there is a net loss, enter that amount as a negative number using a minus sign. Enter amounts that represent cash outflows as a negative number using a minus sign. You will not need to enter colons (:) or the word Deduct on the statements.
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