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Cindy Braun created a corporation providing legal services, Cindy Braun Inc., on July 1, 2014. On July 31 the balance sheet showed: Cash $4,000; Accounts Receivable $2,500; Supplies $500; Equipment $5,000; Accounts Payable $4,200; Common Stock $6,200; and Retained Earnings $1,600. During August the following transactions occurred.
*Prepare a tabular analysis of the August transactions beginning with July 31 balances.
*Prepare an income statement for August.
*Prepare a retained earnings statement for August.
*Prepare a classified balance sheet at August 31.
31 Incurred utility expenses for the mont
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Work-in-process inventory was $14,900 at January 1 and $16,700 at December 31. Finished goods inventory was $65,000 at January 1 and $58,300 at December 31.
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