Current Attempt in Progress Pharoah Computer Corporation had the following opening account balances at the end of April: Cash $4.000; Accounts Receivable $6,000; Accounts Payable $2,500; Common Shares $5,000; and Retained Earnings $2.500. It entered into the following transactions during the month of May: 1 2. 3. 4. 5. Purchased equipment on account for $8,400. Paid $1.200 for rent for the month of May. Provided computer services for $4,200 on account Paid Ontario Hydro $400 cash for utilities used in May, Borrowed $20,100 from the bank. Paid supplier for equipment purchased in transaction 1. Purchased a one year accident insurance policy for $500 cash. Received $2,500 cash in partial payment of the account owed in transaction 3. Declared and paid $500 of dividends to shareholders 6. 7 8. 9 10 Paid income tax of $250 for the month Assets Cash Equipmen Transaction Accounts Receivable Prepaid Insurance S Apr. 30 Bal. $ $ $ 1 2. 3. 4 5. 6. 7 8. s otv A MacBook Pro Liabilities Bank Loan Payable Accounts Payable Common Shares Balance $ $ $ I 24 7A Question 1 of 6 > -/10 Shareholders' Equity Retained Earnings ares Balance Revenues Expenses Dividends Declar $ 24 dtv VA Daa Determine the total assets and the total liabilities and shareholders' equity. Total Assets $ Total Liabilities and Shareholders' Equity $