Acc102 hw 4 - 2009 Assets Cash Land 50,000 76,000 (5,000)...

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Assets Cash Land COD Interest 1. Acquired $ F 50,000 2. Recognized $ 3. Collected $ O 76,000 4. Dividens F (5,000) 5. Salary expense O (42,500) 6. Operating expenses O (11,000) 7. Invested in COD I (30,000) 30,000 37,500 - 30,000 8. Accrued Salary expense 9. Accrued Interest on COD 750 37,500 - 30,000 750 2010 1. Salary payable O (2,400) 2. Borrowed F 28,000 3. Issue CS F 10,000 4. Recognized revenue 5. collected A/R O 108,000 6. Bought Land I (32,000) 32,000 7. Dividens F (10,000) 8. Received Interest on C I 32,250 (30,000) (750) 9. Salary expense O (40,000) 10. Operating expenses O (46,000) 85,350 32,000 - 11. Accrued Salary expense 12. Interest on bank note 85,350 32,000 - - Income Statement for the year ended 12/31/09 40,543 REV: Service Revenue 86,000 120,000 EXP: Expenses (53,500) (86,000) NET INCOME 32,500 34,000 Statemnet of changes for SE for the year ended 12/31/07 Beginning Common Stock - 50,000 Plus: Common Stock Issued 50,000 10,000 Ending Common Stock 50,000 60,000 Beginning Retained Earning
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This note was uploaded on 04/08/2008 for the course ACCT 201 taught by Professor Carroll during the Spring '08 term at SUNY Oswego.

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Acc102 hw 4 - 2009 Assets Cash Land 50,000 76,000 (5,000)...

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