An analysis of the transactions made by Crane & Co., a certified public accounting firm, for...

 

  

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An analysis of the transactions made by Crane & Co., a certified public accounting firm, for the month of August is shown as follows. The expenses were $700 for rent, $5,200 for salaries and wages, and $370 for utilities. Determine how much owner's equity increased for the month. Accounts Cash + Receivable + Supplies + Equipment Accounts Payable Owner's 1. +$15,600 Owner's Capital - Drawings + Revenues +$15,600 2. -700 +$4,200 +$3,500 3. -700 +$700 4. +3,800 +$4,300 +$8,100 5. -1,700 6. -2,800 -1,700 -$2,800 7. -700 8. +550 -550 9. -5,200 10. +370 Accounts Accounts Owner's Owner's + Receivable + Supplies + Equipment = Payable + Capital Drawings + Revenues - Expenses +$15,600 +$4,200 +$3,500 +$700 +$4,300 -550 -1,700 -$2,800 +370 +$8,100 -$700 -5,200 -370 An analysis of the transactions made by Crane & Co., a certified public accounting firm, for the month of August is shown as follows. The expenses were $700 for rent, $5,200 for salaries and wages, and $370 for utilities. Determine how much owner's equity increased for the month. Accounts Cash + Receivable + Supplies + Equipment Accounts Payable Owner's 1. +$15,600 Owner's Capital - Drawings + Revenues +$15,600 2. -700 +$4,200 +$3,500 3. -700 +$700 4. +3,800 +$4,300 +$8,100 5. -1,700 6. -2,800 -1,700 -$2,800 7. -700 8. +550 -550 9. -5,200 10. +370 Accounts Accounts Owner's Owner's + Receivable + Supplies + Equipment = Payable + Capital Drawings + Revenues - Expenses +$15,600 +$4,200 +$3,500 +$700 +$4,300 -550 -1,700 -$2,800 +370 +$8,100 -$700 -5,200 -370