On August 1, 2021, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Oriole Ltd Accounts payable $2,440 Accounts receivable 4,400 Accumulated depreciationequipment 1,880 Cash 5,880 Common shares 11,600 Deferred revenue 1,140 Equipment 9,600 Interest receivable 20 Note receivable, due October 31, 2021 4,000 Retained earnings 6,670 Salaries payable 1,290 Supplies 1,120 During August, the following summary transactions were completed Aug 1 Paid $400 cash for advertising in local newspapers Advertising flyers will be included with newspapers delivered during August and September ( Hint Use the Prepaid Advertising account ) 3 Paid August rent $400 ( Hint Use the Prepaid Rent account ) 6 Received $3,340 cash from customers in payment of accounts 10 Paid $2,820 for salaries due employees, of which $1,530 is for August and $1,290 is for July salaries payable 13 Received $3,440 cash for services performed in August 15 Purchased additional equipment on account $1,830 17 Paid creditors $1,830 of accounts payable due 22 Purchased supplies on account $740 24 Paid salaries $2,960 27 Performed services worth $5,140 on account and billed customers 29 Received $820 from customers for services to be provided in the future 31 Declared and paid a $490 dividend Prepare a trial balance at August 31 Please answer those with RED ARROWS Cash Aug 1 Bal 5880 Aug, 1 400 Aug 6 3340 Aug 3 400 Aug 13 3440 Aug 10 2820 Aug 29 820 Aug 17 1830 Aug 24 2960 Aug 31 490 Aug 31 Bal 4580 Accounts Receivable Aug 1 Bal 4400 Aug 6 3340 Aug 27 5140 Aug 31 Bal 6200 Prepaid Advertising Aug 1 400 Aug 31 Bal 400 Supplies Aug 1 Bal 1120 Aug 22 740 Aug 31 Bal 1860 Prepaid Rent Aug 3 400 Aug 31 Bal 400 Note Receivable Aug 1 Bal 4000 Aug 31 Bal 4000 Interest Receivable Aug 1 Bal 20 Aug 31 Bal 20 Equipment Aug 1 Bal 9600 Aug 15 1830 Aug 31 Bal 11430 Accumulated Depreciation Equipment Aug 1 Bal 1880 Aug 31 Bal 1880 Accounts Payable Aug 17 1830 Aug 1 Bal 2440 Aug 15 1830 Aug 22 740 Aug 31 Bal 3180 Salaries Payable Aug 10 1290 Aug 1 Bal 1290 Aug 31 Bal 0 Deferred Revenue Aug 1 Bal 1140 Aug 29 820 Aug 31 Bal 1960 Common Shares Aug 1 Bal 11600 Aug 31 Bal 11600 Retained Earnings Aug 1 Bal 6670 Aug 31 Bal 6670 Dividends Declared Aug 31 490 Aug 31 Bal 490 Service Revenue Aug 13 3440 Aug 27 5140 Aug 31 Bal 8580 Salaries Expense Aug 10 1530 Aug 24 2960 Aug 31 Bal 4490 ORIOLE LTD Trial Balance August 31, 2021 Debit Credit Accounts Payable 3180 Accounts Receivable 6200 Accumulated Depreciation Equipment 1880 Cash 4580 Common Shares 11600 Deferred Revenue 1960 Equipment 11430 Interest Receivable 20 Notes Receivable 4000 Retained Earnings 6670 Salaries Payable 0 Supplies 1860 Prepaid Advertising 400 Service Revenue 8580 Prepaid Rent 400 Salaries Expense 4490 $ 35210 $ 35210

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Posted on Oct 21, 2024

On August 1, 2021, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Oriole Ltd.

Accounts payable		$2,440
Accounts receivable		4,400
Accumulated depreciationequipment		1,880
Cash		5,880
Common shares		11,600
Deferred revenue		1,140
Equipment		9,600
Interest receivable		20
Note receivable, due October 31, 2021		4,000
Retained earnings		6,670
Salaries payable		1,290
Supplies		1,120

During August, the following summary transactions were completed.

Aug. 1		Paid $400 cash for advertising in local newspapers. Advertising flyers will be included with newspapers delivered during August and September. (Hint: Use the Prepaid Advertising account.)
3		Paid August rent $400. (Hint: Use the Prepaid Rent account.)
6		Received $3,340 cash from customers in payment of accounts.
10		Paid $2,820 for salaries due employees, of which $1,530 is for August and $1,290 is for July salaries payable.
13		Received $3,440 cash for services performed in August.
15		Purchased additional equipment on account $1,830.
17		Paid creditors $1,830 of accounts payable due.
22		Purchased supplies on account $740.
24		Paid salaries $2,960.
27		Performed services worth $5,140 on account and billed customers.
29		Received $820 from customers for services to be provided in the future.
31		Declared and paid a $490 dividend.

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Prepare a trial balance at August 31. Please answer those with RED ARROWS.

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Cash Aug. 1 Bal. 5880 Aug, 1 400 Aug. 6 3340 Aug. 3 400 Aug. 13 3440 Aug. 10 2820 Aug. 29 820 Aug. 17 > 1830 Aug. 24 2960 Aug. 31 490 Aug. 31 Bal. 4580 Accounts Receivable Aug. 1 Bal. 4400 Aug. 6 3340 Aug. 27 5140 Aug. 31 Bal. 6200 Prepaid Advertising Aug. 1 400 Aug. 31 Bal. 400 Supplies Aug. 1 Bal. 1120 Aug. 22 740 Aug. 31 Bal. 1860 Prepaid Rent Aug. 3 400 Aug. 31 Bal. 400 Note Receivable Aug. 1 Bal. 4000 Aug. 31 Bal. 4000 Interest Receivable Aug. 1 Bal. 20 Aug. 31 Bal. 20 Equipment Aug. 1 Bal. 9600 Aug. 15 1830 Aug. 31 Bal. 11430 Accumulated Depreciation - Equipment Aug. 1 Bal. 1880 Aug. 31 Bal. 1880 Accounts Payable Aug. 17 1830 Aug. 1 Bal. 2440 Aug. 15 1830 Aug. 22 740 Aug. 31 Bal. 3180 Salaries Payable Aug. 10 1290 Aug. 1 Bal. 1290 Aug. 31 Bal. 0 Deferred Revenue Aug. 1 Bal. 1140 Aug. 29 820 Aug. 31 Bal. 1960 Common Shares Aug. 1 Bal. 11600 Aug. 31 Bal. 11600 Retained Earnings Aug. 1 Bal. 6670 Aug. 31 Bal. 6670 Dividends Declared Aug. 31 490 Aug. 31 Bal. 490 Service Revenue Aug. 13 3440 Aug. 27 5140 Aug. 31 Bal. 8580 Salaries Expense Aug. 10 1530 Aug. 24 2960 Aug. 31 Bal. 4490 ORIOLE LTD. Trial Balance August 31, 2021 Debit Credit Accounts Payable 3180 Accounts Receivable 6200 Accumulated Depreciation - Equipment 1880 Cash 4580 Common Shares . 11600 Deferred Revenue 1960 Equipment 11430 Interest Receivable 20 Notes Receivable 4000 Retained Earnings 6670 Salaries Payable 0 Supplies 1860 Prepaid Advertising 400 Service Revenue 8580 Prepaid Rent 400 Salaries Expense 4490 $ 35210 $ 35210