Using the Following Accounts and Their Amounts, Prepare in Good

question 215

Essay

Using the following accounts and their amounts, prepare in good format a statement of stockholder's equity for Bright Futures Company for the month ended August 31. No common stock was issued during the year. $\begin{array}{lr}\text { Tel ephone expense } & 1,150 \\\text { Cash } & 3,000 \\\text { Accounts payable } & 1,540 \\\text { Dividends } & 800 \\\text { Fees earned } & 15,700 \\\text { Rent expense } & 1,400 \\\text { Supplies } & 140 \\\text { Accounts receivable } & 1,500 \\\text { Computer equipment } & 17,600 \\\text { Common stock } & 10,000 \\\text { Retained earnings (August } 1 \text { ) } & 4,320 \\\text { Wages expense } & 4,800 \\\text { Utilities expense } & 750 \\\text { Office expense } & 420\end{array}$ ​
​

---

Definitions:

Convergent Boundary

A tectonic boundary where two plates are moving towards each other, often resulting in mountain building, earthquakes, and volcanic activity.

Divergent Boundary

A tectonic plate boundary where two plates are moving away from each other, leading to the creation of new crust.

Transform Boundary

A type of plate boundary where two tectonic plates slide past each other horizontally, often associated with earthquakes.

Mantle

The layer of the Earth between the crust and the outer core, composed of silicate rocks that are rich in magnesium and iron.