Balance Sheet The account balances of Sentinel Travel Service for the year ended August 31, 2019, are listed below. Fees earned $726,015 Office expense 166,985 Miscellaneous expense 14,520 Wages expense 348,485 Accounts receivable 50,820 Accounts payable 18,150 Cash 134,645 Land 232,000 Supplies 8,710 Barb Schroeder, the owner, invested an additional 543,600 in the business during the year and withdrew cash of $27,600 for personal use. Barb Schroeder, capital as of September 1, 2018, was $196,000. Prepare a report form balance sheet as of August 31, 2019. When entering assets, enter them in order of liquidity, Sentinel Travel Service Balance Sheet August 31, 2019 Assets Prepare a report form balance sheet as of August 31, 2019. When entering assets, enter them in order of liquidity. Sentinel Travel Service Balance Sheet August 31, 2019 Assets Total assets QUIDO O DI Liabilities Owner's Equity Total liabilities and owner's equity Accounting Equation Katherine Brewer is the owner and operator of Go-For-It LLC, a motivational consulting business. At the end of its accounting period, December 31, 2018, Go-For-It has atsets of $879,000 and liabilities of $211,000. Using the accounting equation, determine the following amounts: a. Owner's equity as of December 31, 2018. b. Owner's equity as of December 31, 2019, assuming that assets increased by $167,000 and liabilities increased by $51,000 during 2019. Transactions Bridgeport Delivery Service is owned and operated by Jerome Foley. The following selected transactions were completed by Bridgeport Delivery Service during February: Indicate the effect of each transaction on the accounting equation elements (Assets, Liabilities, Owner's Equity). Also indicate the specific account within the accounting equation element that is affected. To illustrate, the answer to (1) follows: (1) Asset (Cash) increases by $40,000; Owner's Equity (Jerome Foley, Capital) increases by $40,000. Element Item Direction 1. Received cash from owner as additional investment, $40,000 Asset Owner's Equity Cash Jerome Foley, Capital Increases 2. Billed customers for delivery services on account, $13,750. Increases 3. Paid creditors on account, $2,500. 4. Received cash from customers on account, $9,000. 5. Paid cash to owner for personal use, $1,000