Ribeye Co problem

Ribeye Co problem - RIBEYE Co.1 Below, the accounts and...

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1 Below, the accounts and their balances are listed in a mixed order from the trial balance of Ribeye Co. As of 31 Dec. 2006. Prepare; a. Income Statement of Ribeye Co. for the year 2006 b. Balance Sheet of Ribeye Co. as of 31 st of December 2006. Rent Expense 12.000 Accumulated depreciation: building 64.000 Accounts receivable 43.500 Marketable Securities 70.000 Interest Revenue 6.700 Prepaid Expenses 6.000 Capital 115.000 Accounts payable 55.000 Salary Expense 367.000 Long Term Bank Loans 71.000 Service Revenue 617.000 Notes Receivable 10.700 Land 52.000 Supply Expense 5.000 Advertising expense 29.000 Supply Inventory 13.000 Accrued Expenses 3.300 Utilities expense 3.100 Patents 74.000 Travel Expense 57.000 Retained Earnings 11.000 Building 160.000 Interest expense 8.200 Cash 24.500 Depreciation Expense 8.000 Hint: Accumulated Depreciation is reported under fixed assets with a negative (-) sign. (it should be deducted from the total of fixed assets)
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Ribeye Co problem - RIBEYE Co.1 Below, the accounts and...

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