Reference no: EM132979538

On August 31, the balance sheet of Tamarisk, Inc. showed Cash $12,000, Accounts Receivable $4,700, Supplies $600, Equipment $6,000, Accounts Payable $6,600, Common Stock $15,750, and Retained Earnings $950.

During September, the following transactions occurred.

• Paid $3,750 cash for accounts payable due.
• Collected $1,350 of accounts receivable.
• Purchased additional equipment for $2,250, paying $800 in cash and the balance on account.
• Recognized revenue of $7,350, of which $2,600 is collected in cash and the balance is due in October.
• Declared and paid a $450 cash dividend.
• Paid salaries $2,600, rent for September $1,050, and advertising expense $200.
• Incurred utilities expense for month on account $330.
• Received $14,500 from Capital Bank on a 6-month note payable.

Problem 1: 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