Reference no: EM13578351

Healy Corporation had the following operating events occur during the month of August 2010. Healy Corporation fiscal year end is August 31.

1) Paid $5,000 for four months' rent in advance.

2) Received and paid $950 bill for advertising.

5) Purchased $300 of office supplies on account.

21) Paid $700 for life insurance on the company president. This is a semiannual premium and the first time the company has insured the president.

21) Recieved phone bill for $240 to be paid on August 30.

26) Paid $365 postage to mail advertising brochures to customers.

30) Paid phone bill additional information: Account balances for August 1: office supplies $3,100 information for adjusting entries: office supplies on hand, August 31,2010 1,250

Question A: Make the apropriate entries for the events in August

B: Show how the results of these events are presented on Healy Corporation's financial statements