quize 2 solution

quize 2 solution - Interest Payable Office Rent Payable...

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NAME__ Zhi __ Pei ________________________4-Digit #__ 7688 _____ Section___ 14518 ____ Accounting Cycle (continued): [073Q2] Required: Determine the proper balances for all accounts shown in these two financial statements at the end of Year 2. If you need to add other account names please insert them legibly. Hollywood Company Balance Sheet December 31, Year 2 Assets: Cash 333,060 Accounts Receivable 140,000 Ppd. Eq. Rental 400 Supplies Inventory 500 Total Assets 473960 Liabilities:
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Unformatted text preview: Interest Payable Office Rent Payable Salaries Payable 16,400 Note Payable Unearned Revenue Total Liabilities 20,600 Owner's Equity: Contributed Capital 401,945 Retained Earnings 51,415 Total OE 453,360 Total Liab. & OE 473960 Hollywood Company Income Statement For the Year Ended Dec. 31, Year 2 Sales Revenue: 486,000 Expenses: Salaries 386,000 Office Rent 43,000 Supplies 4,100 Interest 625 Equipment Rent 860 Income 51,415...
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