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Question - Felix Company has just completed operations for the year ended December 31, 2018. This is the second year of operations for the company. The following data have been assembled for the business.
Accounts Payable $12,200
Office Expense $6,500
Accounts Receivable 14,500
Rent Expense 9,600
Cash 8,200
C. Felix, Capital, Jan. 1, 2016 8,300
Owner's contributions 9,000
Salaries Expense 36,000
Owner's withdrawals 13,500
Service Revenue 84,000
Equipment 15,000
Utilities Expense 6,200
Insurance Expense 4,000
Required - Prepare the Income Statement, Statement of Owner's Equity and the Balance Sheet.
Making payments of ?$963.32 at the end of every year over three years. If interest is 5.2?% compounded semi-annually?, what was the original loan? balance?
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Amounted to $42,000 in December and $68,000 in January. Use this information to determine the projected ending balance of cash on hand for January.
At the end of the year, total revenues amounted to $375,000. Prepare journal entries to record partners Cash Withdrawals
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