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- nolders' equity is explained. compute net income. (LO 1), AP Assets = Liabilities Stockholders' Equity Accounts Common Retained Earnings Cash A/R Supp. Equip. Payable Stock + Rev. Exp. Div. 1. +$20,000 +$20,000 2. -1,000 Com. Stock +$5,000 +$4,000 3. -750 +$750 4. +4,100 +$5,400 +$9,500 Serv. Rev. 5. -1,500 1,500 6. -2,000 7. -800 -$2,000 Div. 8. -%24800 Rent Exp. +450 -450 9. -3,000 10. -3,000 Salar. Exp. 300 -300 Util. Exp. Instructions (a) Describe each transaction. (b) Determine how much stockholders' equity increased for the month. (c) Compute the net income for the month. E3-5 The tabular analysis of transactions for Colaw Company is presented in E3-4. Prepare an income statement,

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- nolders' equity is explained. compute net income. (LO 1), AP Assets = Liabilities Stockholders' Equity Accounts Common Retained Earnings Cash A/R Supp. Equip. Payable Stock + Rev. Exp. Div. 1. +$20,000 +$20,000 2. -1,000 Com. Stock +$5,000 +$4,000 3. -750 +$750 4. +4,100 +$5,400 +$9,500 Serv. Rev. 5. -1,500 1,500 6. -2,000 7. -800 -$2,000 Div. 8. -%24800 Rent Exp. +450 -450 9. -3,000 10. -3,000 Salar. Exp. 300 -300 Util. Exp. Instructions (a) Describe each transaction. (b) Determine how much stockholders' equity increased for the month. (c) Compute the net income for the month. E3-5 The tabular analysis of transactions for Colaw Company is presented in E3-4. Prepare an income statement,

Name: E3-4 A tabular analysis of the transactions made during August 2014 b
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Description: E3-4 A tabular analysis of the transactions made during August 2014 by Colaw Company Analyze transactions andduring its first month of operations is shown below. Each increase and decrease in stock-nolders' equity is explained.compute net income.(LO

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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