FMGT 2293 2-27 Solution[1]

FMGT 2293 2-27 Solution[1] - 2-27 Assets +$12,500 (cash)...

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Unformatted text preview: 2-27 Assets +$12,500 (cash) -$1,000 (cash) +$8,000 (equipment) -$8,000 (cash) -$1,200 (equipment) +$25,000 (inventory) = + -$1,200 [retained earnings (amortization expense)] = Liabilities = +$12,500 (bank loan) = + Shareholders’ Equity a. b. c. + -$1,000 [retained earnings (interest expense)] d. e. = +$25,000 (accounts payable) = +$37,500 [retained earnings (sales revenue)] = - $22,500 [retained earnings (cost of goods sold)] = -$23,100 (accounts payable) = f. g. +$30,000 (cash) +7,500 (accounts receivable) -$22,500 (inventory) h. -$23,100 (cash) i. +$7,000 (cash) - $7,000 (accounts receivable) j. = +$8,400 (wages payable) -$8,200 (cash) = -$8,200 (wages payable) - $8,400 [retained earnings (wages expense)] k. l. -$600 (cash) - $600 (retained earnings) ...
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This note was uploaded on 09/25/2010 for the course FMGT FMGT 2293 taught by Professor Hamere. during the Summer '09 term at Langara.

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FMGT 2293 2-27 Solution[1] - 2-27 Assets +$12,500 (cash)...

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