Question

An analysis of transactions for Liam Agler & Co. was presented in E1–8.
In E1–8, An analysis of the transactions made by Liam Agler & 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 $500 for utilities.


Instructions
Prepare an income statement and an owner’s equity statement for August and a balance sheet at August 31, 2014. Assume that August is the company’s first month ofbusiness.


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  • CreatedJanuary 30, 2014
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