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I only need help with the final part, thank you! Post the transactions to T-accounts. (Post entries in the order of information presented in the
I only need help with the final part, thank you!
5 Exercise 3-14 (Part Level Submission) Selected transactions for Sheffield Corp. during its first month in business are presented below. Sept. 1 Issued common stock in exchange for $19,200 cash received from investors. Purchased equipment for $9,500, paying $3,780 in cash and the balance on account. 8 Performed services on account for $18,000. Paid salaries of $1,200. 25 Paid $3,110 cash on balance owed for equipment. 30 Paid $930 cash dividend. 14 Complete a tabular analysis of the September transactions. (If a transaction causes 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. See Illustration 3-3 for example.) Assets Liabilities Stockholders' Equity Retained Earnings Cash + Accounts Receivable + Equipment = Accounts Payable + Common Stock + Revenues Expenses Dividends Sept. 1 19,200 19,200 Sept. 5 -3,780 9,500 5,720 Sept. 8 18,000 18,000 E Sept. 14 -1,200 -1,200 Sept. 25 -3,110 -3,110 Sept. 30 -930 110, -930 10,180 18,000 9,500 2,6101 19,200 18,000 1,200 930 Journalize the transactions. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Sept. 1 Cash 19,200 Common Stock 19,200 Sept. 5 Equipment 9,500 Cash 3,780 Accounts Payable 5,720 Sept. 8 Accounts Receivable 18,000 Service Revenue 18,000 Sept. 14 Salaries and Wages Expense 1,200 Cash 1,200 Sept. 25 Accounts Payable 3,1101 Cash 3,110 Sept. 30 Dividends 930 Cash 930 Cash > > Accounts Receivable Equipment Accounts Payable Common Stock Dividends Service Revenue Salaries and Wages Expense Post the transactions to T-accounts. (Post entries in the order of information presented in the question.)
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