An analysis of the transactions made by Mark Kotsay & Co., a certified public accounting firm, for the month of August is shown below. The expenses were $650 for rent, $4,800 for salaries and wages, and $500 for utilities br>Instructions
(a) Describe each transaction that occurred for the month.
(b) Determine how much owner's equity increased for the month.
(c) Compute the amount of net income for the month.