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Question 7 Wiew Policies Current Attempt in Progress Prepare tabular summaries to record these transactions....

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Accounting

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Question 7 Wiew Policies Current Attempt in Progress Prepare tabular summaries to record these 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.) Sheridan Company retires its delivery equipment, which cost $47,790. Accumulated depreciation is also $47,790 on this delivery equipment. No la salvage value is received. (b) Assume the same information as in part (a), except that accumulated depreciation for the equipment is $37,660 instead of $47.790. Assets Llabilities Cash Equipment - Accum. Depr.- Equip. - Common Stock + Revenue Bal. $ Assets - Liabilities + Sto Cash Equipment - Accum. Depr.- Equip. - Common Stock Revenue Bal. $ e Textbook and Media Liabilities + Stockholders' Equity Retained Earnings Accum. Depr.- Equip. + Common Stock + Revenue Expense Dividend - Liabilities + Stockholders' Equity Retained Earnings Common Stock + Revenue Dividend

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