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Sleek Ride, a company providing limo services, has a December 31 year-end date. For Sleek Ride, the following transactions occurred during the ?rst 10 days of June:a. Purchased, on credit, space for classi?ed advertisements in the New York Times for $1,950. The advertising was run the day the space was purchased.b. Purchased of?ce supplies from Of?ce Max on credit in the amount of $475.c. One of Sleek Ride's sales staff signed a $20,000 contract to provide exclusive limo services for a large company for the remainder of the month. The salesperson's commission is 10% of service revenue. The commission will be paid July 10. ( Note: Concern yourself only with the commission.)d. Received electric bill for May. The bill is $4,200 and is due June 15.e. Received a bill for $970 from Harry's Auto. Harry's repaired 10 limos for Sleek Ride in late May. Payment is due June 18.
Required: Prepare journal entries for the above transactions
After discontinuing the ordinary business operations and closing the accounts on May 7, the ledger of the partnership indicate the following: Cash $75,000 Non cash 105,000 Liabilit
You may just be wondering as to see that how we control activities by ratios. The answer is not tough to seek. Ratios we have known for control of activities measures relationships
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