An analysis of the transactions made by Sheridan & Co., a certified public accounting firm, for the month of August is shown as follows. The expenses were $600 for rent, $5,800 for
salaries and wages, and $300 for utilities.
Accounts
Cash
Receivable + Supplies + Equipment
Accounts
Payable
Owner's
Capital
Owner's
Drawings + Revenues - Expenses
+$15,600
+$15,600
2.
-2,000
+$4,300
+$2,300
3.
-700
+$700
4.
+3,800
+$4,100
+$7,900
5.
-1,600
-1,600
6.
-3,000
-$3,000
7.
-600
-$600
8.
+550
-550
9.
-5,800
-5,800