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Responsibility Project

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Submitted By puinsai1x
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3-4(a)
A tabular analysis of the transactions made during August 2010 by Witten Company during its first month of operations is shown below. Each increase and decrease in stockholders' equity is explained. | -------------------------------------------------
Assets | = | -------------------------------------------------
Liabilities | + | -------------------------------------------------
Stockholders' Equity | | | -------------------------------------------------
Cash | + | -------------------------------------------------
Accounts Receivable | + | -------------------------------------------------
Supplies | + | -------------------------------------------------
Office Equipment | = | -------------------------------------------------
Accounts Payable | + | -------------------------------------------------
Common Stock | + | -------------------------------------------------
Retained Earnings | | | | | | | | | | | | | | | -------------------------------------------------
Rev. | - | -------------------------------------------------
Exp. | - | -------------------------------------------------
Div. | | 1. | $20,000 | | | | | | | | | | $20,000 | | | | | | | Com. Stock | 2. | -1,000 | | | | | | $5,000 | | $4,000 | | | | | | | | | | 3. | -750 | | | | $750 | | | | | | | | | | | | | | 4. | 4,400 | | $5,400 | | | | | | | | | | $9,800 | | | | | Serv. Rev | 5. | -1,500 | | | | | | | | -1,500 | | | | | | | | | | 6. | -2,000 | | | | | | | | | | | | | | | | -2,000 | Div. | 7. | -800 | | | | | | | | | | | | | | -800 | | | Rent Exp. | 8. | 450 | | -450 | | | | | | | | | | | | | | | | 9. | -3,000 | | | | | | | | | | | | | | -3,000 | | | Sal. Exp. | 10. | | | | | | | | | 500 | | | |

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