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Question: accounting cycle review e 04 a tabular analysis of the...

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Accounting Cycle Review E 0-4 A tabular analysis of the transactions made during August 2017 by Cullumber 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) $21,400 $21,400 Com. Stock (2) –1,500 $5,100 $3,600 (3) –800 $800 (4) 4,100 $6,400 $10,500 Serv. Rev. (5) –2,000 –2,000 (6) –1,600 –$1,600 Div. (7) –850 –$850 Rent Exp. (8) 530 –530 (9) –2,500 –2,500 Salar. Exp. (10) 320 –320 Util. Exp. (b) Determine how much stockholders’ equity increased for the month. Increase in stockholders’ equity $ (c) Compute the net income for the month.

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