Jose Loder established Bronco Consulting on August 1, 20Y1. The effect of each transaction and the balances after each transaction for August follow:

Instructions

1. Prepare an income statement for the month ended August 31, 20Y1.

2. Prepare a statement of stockholders’ equity for the month ended August 31, 20Y1.

3. Prepare a balance sheet as of August 31, 20Y1.

4. Prepare a statement of cash flows for the month ending August 31, 20Y1.

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Stockholders' Equity =Liabilities+ Assets Accounts + Receivable + Supplies = Payable + Salaries Supplies Misc. Accounts Common Stock Fees Rent Auto Dividends + Earned - Expense - Expense – Expense – Expense - Expense Cash +75,000 +75,000 a. b. +9,000 +9,000 Bal. 9,000 75,000 +92,000 9,000 75,000 C. +92,000 Bal. 167,000 d. 9,000 9,000 75,000 92,000 - 27,000 -27,000 -27,000 Bal. 9,000 9,000 92,000 140,000 75,000 -6,000 -6,000 e. Bal. 134,000 -27,000 75,000 9,000 3,000 92,000 f. +33,000 +33,000 -27,000 Bal. 134,000 - 23,000 33,000 9,000 3,000 75,000 125,000 -15,500 -7,500 g. -27,000 - 15,500 -7,500 Bal. 33,000 111,000 9,000 3,000 75,000 125,000 - 58,000 -58,000 h. -58,000 -27,000 – 15,500 -7,500 Bal. 9,000 53,000 33,000 3,000 75,000 125,000 - 58,000 i. -6,100 -6,100 - 27,000 - 15,500 -6,100 75,000 Bal. 33,000 3,000 53,000 2,900 125,000 -58,000 -7,500 j. -5,000 -5,000 3,000 - 6,100 -7,500 Bal. 2,900 48,000 33,000 75,000 -5,000 125,000 58,000 -27,000 15,500