Question

An analysis of transactions for Foley & Co. was presented in E1–8. Assume that August is the company’s first month of business.
In E1–8, An analysis of the transactions made by Foley & Co., a certified public accounting firm, for the month of August is shown below. Each increase and decrease in stockholders’ equity is explained.



Instructions
Prepare an income statement and a retained earnings statement for August and a balance sheet at August 31,2015.


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  • CreatedFebruary 17, 2014
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