Current Attempt in Progress
An analysis of transactions for Oriole & Co. a certified public accounting firm, for the month of August is shown as follows. The
expenses were $700 for rent, $5,000 for salaries and wages, and $400 for utilities.
Accounts
Cash
Receivable
Supplies
Equipment
Accounts
Payable
Owner's
Capital
Owner's
Drawings
Revenu
1.
+$15,400
+$15,400
2.
-2,700
+$5,000
+$2,300
3.
-800
+$800
4.
+3,500
+$4,300
+$7,8
5.
-1,300
6.
-2,000
-1,300
-$2,000
7.
-700
8.
+450
-450
9.
-5,000
+400
10.
Assume that August is the company's first month of business.
(a1)