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At the end of its first year, a tabular summary of transactions for Sheridan Company before adjustments include the following selected account information. Assets Liabilities
At the end of its first year, a tabular summary of transactions for Sheridan Company before adjustments include the following selected account information. Assets Liabilities + Stockholders' Equity Acc Depr.-Equip. = Com. Stock Equipment Exp. (Depr.) + Rev. Div. Bal. 18,480 0 0 Depreciation for the year is estimated to be $ 2,310. Record the adjustment for depreciation in the tabular summary and indicate the adjusted balance in each account. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Com. Accum. Depr.-Equip. Equipment Stock Bal. 18,480 0 Dec. 31 Adj. Bal. Depreciation for the year is estimated to be $ 2,310. Record the adjustment for depreciation in the tabular summary and indicate the adjusted balance in each account. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Liabilities + Stockholders' Equity Com. Stock Exp. (Depr.) = + Rev. 0 Depreciation for the year is estimated to be $ 2,310. Record the adjustment for depreciation in the tabular summary and indicate the adjusted balance in each account. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) + Stockholders' Equity Com. Stock Exp. (Depr.) + Rev. Div
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