Question: Please complete exercise 3-4 and exercise 3-8 Exercise 3-4 A tabular analysis of the transactions made during August 2014 by Colaw Company during its first
Please complete exercise 3-4 and exercise 3-8
Exercise 3-4 A tabular analysis of the transactions made during August 2014 by Colaw Company during its first month of operations is shown below. Each increase and decrease in stockholders? equity is explained.
| Assets | = | Liabilities | + | Stockholders? Equity | ||||||||
| Cash | + | A/R | + | Supp. | + | Equip. | = | Accounts Payable | + | Common Stock | + | Retained Earnings |
| Revenues | ? | Expenses | ? | Dividends | ||||||||
| (1) | $21,730 | $21,730 | Com. Stock | |||||||||
| (2) | ?1,500 | $5,000 | $3,500 | |||||||||
| (3) | ?870 | $870 | ||||||||||
| (4) | 4,860 | $5,810 | $10,670 | Serv. Rev. | ||||||||
| (5) | ?2,240 | ?2,240 | ||||||||||
| (6) | ?2,070 | ?$2,070 | Div. | |||||||||
| (7) | ?740 | ?$740 | Rent Exp. | |||||||||
| (8) | 540 | ?540 | ||||||||||
| (9) | ?2,140 | ?2,140 | Salar. Exp. | |||||||||
| (10) | 360 | ?360 | Util. Exp. |
*Exercise 3-8
This information relates to Crofoot Real Estate Agency.
| Oct. 1 | Stockholders invest $33,410 in exchange for common stock of the corporation. |
| 2 | Hires an administrative assistant at an annual salary of $33,960. |
| 3 | Buys office furniture for $3,880, on account. |
| 6 | Sells a house and lot for M.E. Graves; commissions due from Graves, $12,110 (not paid by Graves at this time). |
| 10 | Receives cash of $230 as commission for acting as rental agent renting an apartment. |
| 27 | Pays $670 on account for the office furniture purchased on October 3. |
| 30 | Pays the administrative assistant $2,830 in salary for October. |
Journalize the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) 
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