An analysis of transactions for Arthur Cooper Co was
An analysis of transactions for Arthur Cooper & Co. was presented in Exercise.
In Exercise, An analysis of the transactions made by Arthur Cooper & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $650 for rent, $4,800 for salaries and wages, and $400 for utilities.


Instructions
Prepare an income statement and an owner’s equity statement for August and a balance sheet at August 31, 2017. Assume that August is the company’s first month ofbusiness.
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