A tabular analysis of the transactions made during August 2014 by Colaw 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) |
$17,520 |
$17,520 |
Com. Stock |
| (2) |
-1,100 |
$5,000 |
$3,900 |
| (3) |
-560 |
$560 |
| (4) |
4,950 |
$6,210 |
$11,160 |
Serv. Rev. |
| (5) |
-1,750 |
-1,750 |
| (6) |
-1,930 |
-$1,930 |
Div. |
| (7) |
-740 |
-$740 |
Rent Exp. |
| (8) |
510 |
-510 |
| (9) |
-3,170 |
-3,170 |
Salar. Exp. |
| (10) |
350 |
-350 |
Util. Exp.
|
Determine how much stockholders' equity increased for the month.