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Unformatted text preview: 3-3ba1. received 10,000 dollars from common stock2. they are going to receive 12,340 dollars from services rendered3. they received 30,000 dollars from money they were going to get4. they bought 500 dollars worth of supplies5. they are going to pay 350 dollars in rent expense6. they are going to pay cash of 3,000 dollars for land7. they paid 4,000 dollars for office equipment8. they paid on accounts payable 2,500 dollars9. they spent 7,320 dollars in operating expensesb.AccountdebitcreditCash $66,863 Accounts Recievable $2,938 Land $39,900 Service Revenue $12,340 Supplies $5,100 Office Equipment $4,000 Rent Expense $350 Operating Expenses $7,320 Accounts Payable $(1,446)Notes Payable $25,500 Common Stock $31,000 Retained Earnings $35,575 $126,471 $102,969 c.Student Credit Consultation CompanyIncome StatementFor the month ended June 30, 2011Service Revenue $12,340 Operating Expenses $7,320 Net Income $5,020...
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This note was uploaded on 04/21/2008 for the course ACC 100 taught by Professor Jain during the Spring '08 term at Niagara University.
- Spring '08