An analysis of the transactions made by S. Moses & Co., a certified public accounting firm, for the month of August is shown below. Each increase and decrease in equity is explained.

Instructions
(a) Describe each transaction that occurred fort the month.
(b) Determine how much equity increased for the month.
(c) Computer the amount of net income for themonth.

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Assets Accout Supples Liabilities + Equity Olic EquipmenPayable Capt Re.- Accounts Share Recen able Di I. + $15,000 750) 51500 5,000 issued Shares $75) 4.3.700 Service Revenue 150 . 2.000 2.000 Dividend: -65 650 Rent Expense 8.450 - 450 9.4,900 - 4.9001 -500 Salaies Eipense Utilties bxpense 10. 5(x