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pshichka [43]
2 years ago
13

Prepare an income statement for Jay Pembroke for the month of April 20xx using the account balances given below. Cash $13,561 Ac

counts Receivable 1,928 Office Supplies 4,504 Prepaid Insurance 1,186 Accounts Payable 315 Jay Pembroke, Capital 18,763 Jay Pembroke, Drawing 142 Service Fees 3,080 Rent Expense 837 Income Statement Prepare an income statement for Jay Pembroke for the month of April 20xx using the account balances.
Business
1 answer:
Luden [163]2 years ago
5 0
The answer will be well he had fees 3080 soo rjhdhshs
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Answer:

a. $24,000

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So, $24,000 is reported in his individual income tax return

b. The computation of the Wilson's basis in his partnership interest is shown below:

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Suppose that over the past year, the real interest rate was 3 percent, the cpi was 126.2 at the beginning of the year, and the c
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