On August 1, 2024, the beginning of its current fiscal year, the following opening account balances,...

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On August 1, 2024, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Bramble Ltd. Accounts payable $2,450 Accounts receivable 4,590 Accumulated depreciation-equipment 2,030 Cash 5,430 Common shares 12,100 Deferred revenue 1,230 Equipment 10,400 Interest receivable 22 Note receivable, due October 31, 2024 4,400 Retained earnings 6,722 Salaries payable 1,400 Supplies 1,090 During August, the following summary transactions were completed. Aug. 1 Paid $400 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. (Hint: Use the Prepaid Advertising account.) 3 Paid August rent, $410. (Hint: Use the Prepaid Rent account.) 6 Received $2,950 cash from customers in payment of accounts. 10 Paid $3,360 for salaries due employees, of which $1,960 is for August and $1,400 is for July salaries payable. 13 Received $3,850 cash for services performed in August. 15 Purchased additional equipment on account, $1,980. 17 Paid creditors $1,980 of accounts payable due. 22 Purchased supplies on account, $850. 24 Paid salaries, $3,050. 27 Performed services worth $4,880 on account and billed customers. 29 Received $750 from customers for services to be provided in the future. 31 Declared and paid a $500 dividend. SUPPO Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Cash Common Shares Deferred Revenue Equipment Interest Receivable Notes Receivable Retained Earnings Dividends Declared BRAMBLE LTD. Trial Balance August 31, 2024 SA Debit 6520 3280 12380 22 4400 500 +A Credit 3300 2030 12100 1980 6722 Dividends Declared Supplies Prepaid Advertising Service Revenue Prepaid Rent Salaries Expense Totals A 500 1940 400 410 5010 8730 34862 34862 Bramble records adjustments monthly. Adjustment data for the month of August are as follows: 1. One month's worth of advertising services have been received. 2. The August rent has expired. 3. Accrued salaries payable are $1,560. 4. Depreciation for the month is $203. 5. Supplies on hand at August 31 are $960. 6. Services were performed to satisfy $840 of Deferred revenue. 7. One month of interest income related to the $4,400 note receivable has accrued. The note was issued on June 30 and is due October 31 and has a 6% annual interest rate. Interest is due at maturity. 8. Income tax of $270 is estimated to be owed for the month of August. On August 1, 2024, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Bramble Ltd. Accounts payable $2,450 Accounts receivable 4,590 Accumulated depreciation-equipment 2,030 Cash 5,430 Common shares 12,100 Deferred revenue 1,230 Equipment 10,400 Interest receivable 22 Note receivable, due October 31, 2024 4,400 Retained earnings 6,722 Salaries payable 1,400 Supplies 1,090 During August, the following summary transactions were completed. Aug. 1 Paid $400 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. (Hint: Use the Prepaid Advertising account.) 3 Paid August rent, $410. (Hint: Use the Prepaid Rent account.) 6 Received $2,950 cash from customers in payment of accounts. 10 Paid $3,360 for salaries due employees, of which $1,960 is for August and $1,400 is for July salaries payable. 13 Received $3,850 cash for services performed in August. 15 Purchased additional equipment on account, $1,980. 17 Paid creditors $1,980 of accounts payable due. 22 Purchased supplies on account, $850. 24 Paid salaries, $3,050. 27 Performed services worth $4,880 on account and billed customers. 29 Received $750 from customers for services to be provided in the future. 31 Declared and paid a $500 dividend. SUPPO Accounts Payable Accounts Receivable Accumulated Depreciation - Equipment Cash Common Shares Deferred Revenue Equipment Interest Receivable Notes Receivable Retained Earnings Dividends Declared BRAMBLE LTD. Trial Balance August 31, 2024 SA Debit 6520 3280 12380 22 4400 500 +A Credit 3300 2030 12100 1980 6722 Dividends Declared Supplies Prepaid Advertising Service Revenue Prepaid Rent Salaries Expense Totals A 500 1940 400 410 5010 8730 34862 34862 Bramble records adjustments monthly. Adjustment data for the month of August are as follows: 1. One month's worth of advertising services have been received. 2. The August rent has expired. 3. Accrued salaries payable are $1,560. 4. Depreciation for the month is $203. 5. Supplies on hand at August 31 are $960. 6. Services were performed to satisfy $840 of Deferred revenue. 7. One month of interest income related to the $4,400 note receivable has accrued. The note was issued on June 30 and is due October 31 and has a 6% annual interest rate. Interest is due at maturity. 8. Income tax of $270 is estimated to be owed for the month of August.