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  3. on august 31, ?the balance sheet of pina colada co

On August 31, ?the balance sheet of Pina Colada Corp. showed Cash $10,000, ?Accounts Receivable...

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Accounting

On August 31, ?the balance sheet of Pina Colada Corp. showed Cash $10,000, ?Accounts Receivable $2,700, ?Supplies $600, ?Equipment $6,000, ?Accounts Payable $4,600, ?Common Stock $14,100, ?and Retained Earnings $600. ?During September, the following transactions occurred.
Paid $3,600 ?cash for accounts payable due.
Collected $1,700 ?of accounts receivable.
Purchased additional equipment for $1,450, ?paying $900 ?in cash and the balance on account.
Recognized revenue of $6,850, ?of which $2,800 ?is collected in cash and the balance is due in October.
Declared and paid a $700 ?cash dividend.
Paid salaries $1,850, ?rent for September $1,000, ?and advertising expense $150.
Incurred utilities expense for month on account $240.
Received $14,000 ?from Capital Bank on a 6-month note payable.
(a)
Prepare a tabular analysis of the September transactions beginning with August 31 ?balances. If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) ?in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 ?for example.)
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