Question: On August 1 , 2 0 Y 9 , Brooke Kline established Western Realty as a proprietorship. Brooke completed the following transactions during the month

On August 1,20Y9, Brooke Kline established Western Realty as a proprietorship. Brooke completed the following transactions during the month of August:
a. Opened a business bank account with a deposit of $23,000 in the name of Western Realty.
b. Paid rent on office and equipment for the month, $2,900.
c. Paid automobile expenses for month, $1,400, and miscellaneous expenses, $600.
d. Purchased supplies on account, $1,350.
e. Earned sales commissions, receiving cash, $18,200.
f. Paid creditor on account, $700.
g. Paid office salaries, $3,300.
h. Paid cash to Maria Adams for personal use, $3,500.
i. Determined that the cost of supplies on hand was $300; therefore, the cost of supplies used was $1,050. a. Prepare an income statement for August.
b. Prepare a statement of owner's equity for August.
c. Prepare a balance sheet as of August 31.
 On August 1,20Y9, Brooke Kline established Western Realty as a proprietorship.

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