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leva [86]
3 years ago
12

Financial Statements from the End-of-Period Spreadsheet

Business
1 answer:
alexdok [17]3 years ago
5 0

Answer: See explanation

Explanation:

Triton Consulting Income Statement For the Year Ended April 30, 20Y3:

Fees earned 279000

Less: Expenses:

Salary expenses = 242000

Supplies expenses 1650

Depreciation expense. 900

Miscellaneous expenses 2000

Total expense = 246550

Net income 32450

Triton Consulting Balance Sheet April 30, 20Y3

Assets

Current assets

Cash 21500

Account receivable 51150

Supplies 750

Total current asset = 73400

Property, plant and equipments

Office equipment 32000

Accumulated Depreciation 5400

Total property,plant and equipment = 26600

Total asset = 100,000

Liabilities

Current liabilities:

Account payable: 3350

Salary payable: 2000

Total liabilities = 5350

Stockholders equity

Common stock 20000

Retained earnings 74650

Total stockholders equity = 94650

Total liability and stockholders equity = 100,000

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Answer: Please see explanation for answers

Explanation:

1. Journal entry to record bad debt on January 31st

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2. Journal entry to record recovery of bad debt on March 9

A) To reinstate Amount previously written off

Date            Account Titles and Explanation                  Debit            Credit

March 9 Account receivables  ( Customer C. Green)    $1,100

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3 0
2 years ago
Shelton Co. purchased a parcel of land six years ago for $874,500. At that time, the firm invested $146,000 in grading the site
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$926,000

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As it pertains to the diffusion of innovation, if the __________ group is relatively small, the number of people who ultimately
saveliy_v [14]
As it pertains to the diffusion of innovation, if the Early adopters 
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