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Sheridan Company ended its fiscal year on July 31, 2020. The companys adjusted trial balance as of the end of its fiscal year is as
Sheridan Company ended its fiscal year on July 31, 2020. The companys adjusted trial balance as of the end of its fiscal year is as follows.
Sheridan Company ended its fiscal year on July 31, 2020. The company's adjusted trial balance as of the end of its fiscal year is as follows. Sheridan Company Adjusted Trial Balance July 31, 2020 No. Account Titles Debit Credit 101 Cash 112 Accounts Receivable $10,100 9,200 15,500 157 158 201 Equipment Accumulated Depreciation-Equip. Accounts Payable Unearned Rent Revenue Owner's Capital Owner's Drawings $7,600 4,600 1,500 47,000 208 301 306 16,100 400 Service Revenue 63,000 6,200 429 711 Rent Revenue Depreciation Expense Salaries and Wages Expense 7,700 56,200 726 732 Utilities Expense 15,100 $129,900 $129,900 SHERIDAN COMPANY Income Statement $ $ $ Prepare an owner's equity statement for the year. Sheridan did not make any capital investments during the year. SHERIDAN COMPANY Owner's Equity Statement $ $ Prepare a classified balance sheet at July 31. (List Current Assets in order of liquidity.) SHERIDAN COMPANY Balance Sheet Assets $ $ Liabilities and Owner's Equity $ $Step by Step Solution
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