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A partial tabular summary for Whispering Winds Corp. on July 31, 2022 includes the following accounts before adjustments have been prepared. Assets Liabilities + Invest.
A partial tabular summary for Whispering Winds Corp. on July 31, 2022 includes the following accounts before adjustments have been prepared. Assets Liabilities + Invest. Notes Rec Bal. 19,600 Stockholders' Equity Retained Earnings Com Stock + Rev. Exp. Div + Supplies + 23,520 Acc. Depr: Bldgs -137,200 Prepd. Rent 3,528 + Bldgs. 245.000 Uneamed = Serv. Rev. 11.270 An analysis of the company's accounts shows the following The investment in the notes receivable earns interest at a rate of 6% per year. Supplies on hand at the end of the month totaled $18.228. The balance in Prepaid Rent represents 4 months of rent costs. Three months of rent remain inexpired at the end of July Employees were owed $3,038 related to unpaid salaries and wages. 5. Depreciation on buildings is $5,880 per year. During the month the company satisfied obligations worth $4,606 related to the Unearned Service Revenue 7. Unpaid maintenance and repairs costs were $2,254 1 2 3 6 Prepare a tabular summary to record adjustments on July 31 assuming that adjustments are made monthly. Of a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
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