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Question - Following are the accounts maintained by OLX corporation. You need to prepare the income statement and the statement of owner's equity for the month ended December 31, 2020.
Cash $10,000 Accounts Receivable $200,000 Service Revenue $150,000
Rent Expense 18,000 Insurance Expense 12000 Drawings 11000
Office Supplies 2000 Salaries expense 10,000 Salaries Payable 5000
Owner's equity, December 1,2020 $60,000 Interest Expense 15,000
Compute the transaction gain or loss. What balance would be reported for the receivable in the firm's statement of financial position?
Carler Company wants to purchase a Punch Press costing $ 50,000. Based on the company analysis, the new machine will result in a savings of $ 9,000 per year
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individual mannerisms and thought processes are unique to everyone. these differences can cause harmony or dissention
Eric Stupher was trading as a furniture manufacturer and he submits to you the following information relating to the year ended 30th September, 1961.
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Prepare a statement of cash flows for 2018 in good form using the indirect method for cash flows from operating activities. USE Worksheet Provide in class.
Discuss the importance of balance of payments as an accounting measure. How important is the U.S. deficit in traded goods in regard to the balance of payments?
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