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On August 1, 2018, Brooke Kline established Western Realty. Brooke completed the following transactions during...

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Accounting

On August 1, 2018, Brooke Kline established Western Realty. Brooke completed the following transactions during the month of August:

  1. Opened a business bank account with a deposit of $27,000 in exchange for common stock.
  2. Purchased supplies on account, $2,750.
  3. Paid creditor on account, $1,740.
  4. Earned sales commissions, receiving cash, $28,030.
  5. Paid rent on office and equipment for the month, $5,490.
  6. Paid dividends, $9,000.
  7. Paid automobile expenses for month, $2,630, and miscellaneous expenses, $1,260.
  8. Paid office salaries, $3,310.
  9. Determined that the cost of supplies on hand was $920; therefore, the cost of supplies used was $1,830.

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Western Realty Retained Earnings Statement For the Month Ended August 31, 2018 Feedback Prepare a balance sheet as of August 31. Western Realty Balance Sheet August 31, 2018 Assets Total assets Liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity

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