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need help with this question please :) WP WP NWP Assessment Player UI Appli X Homework Help - Q&A from Onl X + V X
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WP WP NWP Assessment Player UI Appli X Homework Help - Q&A from Onl X + V X C education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=d1971166-361e-444d-a179-ddd0607740ae#/question/3 Chapter 3 Assignment Question 4 of 7 - 15 View Policies Current Attempt in Progress On July 31, 2021, the general ledger of Sheridan Inc. showed these balances: Cash $3,500; Accounts Receivable $1,600; Supplies $1,400; Equipment $4,700; Accounts Payable $4,100; Common Shares $3,400; and Retained Earnings $3,700. During August, the following transactions occurred: Aug. 2 Collected $1,000 of accounts receivable due from customers. 3 Received $1,300 for issuing common shares to new investors. 6 Paid $2,500 on accounts payable owing. 7 Earned fees of $6,300, of which $2,700 was collected in cash and the remainder was due on account. 13 Purchased additional equipment for $1,200, paying $300 in cash and the balance on account. 17 Paid salaries, $3,600, rent, $800, and advertising expenses, $275, for the month of August. 17 Collected the balance of the fees earned on August 7. 20 Declared and paid $500 of dividends to shareholders. 22 Billed a client $1,000 for legal services provided. 24 Received $2,100 from Laurentian Bank; the money was borrowed on a bank loan payable that is due in six months. 27 Signed an engagement letter to provide legal services to a client in September for $4,400. 28 Received the utility bill for the month of August in the amount of $275; it is due September 15. 31 Paid income tax for the month, $500. (a) Beginning with the July 31 balances, prepare an equation analysis of the effects of the opening balances and above transactions on the expanded accounting equation. (If a transaction causes a decrease in Assets, Liabilities or Shareholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset Liability or Faulty item that was reduced See Illustration 32 32OF ENG 10:42 PM Snow off and on Q Search UK 2/16/2023WP WP NWP Assessment Player UI Appli X Homework Help - Q&A from Onl X + V X C education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=d1971166-361e-444d-a179-ddd0607740ae#/question/3 Chapter 3 Assignment Question 4 of 7 - 15 E Cash Accounts Receivable + Supplies July 31 Bal. $ $ $ $ Aug. 2 3 6 7 13 17 17 20 22 24 28 31 Aug. 31 Bal. $ 32OF Q Search ENG 10:42 PM Snow off and on UK 2/16/2023WP WP NWP Assessment Player UI Appli X Homework Help - Q&A from Onl X + V X C education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=d1971166-361e-444d-a179-ddd0607740ae#/question/3 Chapter 3 Assignment Question 4 of 7 - 15 Supplies Equipment Bank Loan Payable Accounts Pa $ $ 32OF Q Search ENG 10:42 PM Snow off and on UK 2/16/2023WP WP NWP Assessment Player UI Appli X Homework Help - Q&A from Onl X + V X C education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=d1971166-361e-444d-a179-ddd0607740ae#/question/3 Chapter 3 Assignment Question 4 of 7 - 15 opening Actamcu Accounts Payable + Common Shares Earnings Revent $ $ $ $ 32OF Q Search ENG 10:42 PM Snow off and on UK 2/16/2023WP WP NWP Assessment Player UI Appli X Homework Help - Q&A from Onl x + V X C education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=d1971166-361e-444d-a179-ddd0607740ae#/question/3 Chapter 3 Assignment Question 4 of 7 - 15 Opening Retained Earnings Revenues Expenses Dividends Declared $ 32OF Q Search ENG 10:42 PM Snow off and on UK 2/16/2023Step by Step Solution
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