An analysis of the transactions made by S. Moses & Co., a certified public accounting firm, for the month of August is shown below. Each increase and decrease in stockholder’s equity is explained.

Cash + Accounts

Receivable + Supplies + Office

Equipment = Accounts

Payable + Stockholder’s Equity

1. +$15,000 +$15,000 Investment

2. -2,000 +$5,000 +$3,000

3. -750 +$750

4. +4,600 +$3,700 +8,300 Service Revenue

5. -1,500 -1,500

6. -2,000 -2,000 Dividends

7. -650 -650 Rent Expense

8. +450 -450

9. -4,900 -4,900 Salaries Expense

10. +500 -500 Utilities Expense

Instructions

(a) How much did stockholder’s equity increase for the month?

$

(b) Compute the amount of net income for the month. (If a net loss, record amount using either a negative sign preceding the number eg -45 or parentheses eg (45).)

$

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