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Over the past year, Anne Sharpe has operated a part- time consulting business from her home. As of September 1, 2021, Anne decided to move

Over the past year, Anne Sharpe has operated a part- time consulting business from her home. As of

September 1, 2021, Anne decided to move to a rented building and operate the business, which is to be

known as Sharpe's Home Haven, Inc., on a full-time basis. The following transactions occurred in the

month of September:

Sept 1 The following assets were received from Anne Sharpe in exchange for Common Stock of

Sharpe's Home Haven, Inc.: cash $7,050; accounts receivable $1,500; supplies $1,250; and

office equipment $7,200. There were no liabilities received.

2 Paid three months' rent on a rental contract, $3,600.

2 Paid the premiums on property and casualty insurance policies for one year, $1,500.

4 Received cash from clients as an advance payment for services to be provided and recorded it

as unearned fees, $3,500.

5 Purchased additional office equipment on account from Payne Company, $1,800.

6 Received cash from clients on account, $800.

10 Paid cash for a newspaper advertisement, $120.

12 Paid Payne Company for part of the debt incurred on September 5, $800.

12 Recorded services provided on account for the period September 1 - 12, $1,200.

13 Paid part-time receptionist for two weeks' salary, $400.

17 Recorded cash from cash clients for fees earned during the first half of September, $2,100.

18 Paid cash for supplies, $750.

20 Recorded services provided on account for the period September 13 -20, $1,100.

24 Recorded cash from cash clients for fees earned for the period September 17 - 24, $1.850

25 Received cash from clients on account, $1,300.

27 Paid part-time receptionist for two weeks' salary, $400.

29 Paid telephone bill for September, $130.

30 Paid electricity bill for September, $200.

30 Recorded cash from cash clients for fees earned for the period September 25 - 30, $1,050.

30 Recorded services provided on account for the remainder of September, $500

30 Paid dividends, $1,500.

Required:

a). Prepare an income statement and a statement of retained earnings for the month of September and a balance sheet as of September 30, 2021. ( Use proper format and capitalize headings)

b). Prepare a post-closing trial balance.

Note: Journal entry not required, i have already got those entries from my previous post.

Thanks in advance :)

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