MBA800X14 - 1-JanCash16,000 Accumulated Depreciation5,000...

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Unformatted text preview: 1-JanCash16,000 Accumulated Depreciation5,000 Gain on Sale1,000 Equipment20,000 1-Jan Equipment30,000 Notes Payable30,000 11-Jan Inventory10,000 Accounts Payable10,000 21-Feb Cash20,000 Sales20,000 Cost of Goods Sold6,000 Inventory6,000 23-Mar Cash4,000 Common Stock4,000 14-Apr Accounts Payable8,000 Cash8,000 21-May Wages Expense4,000 Cash4,000 18-Sep Retained Earnings1,000 Cash1,000 31-Dec Depreciation Expense3,000 Accumulated Depreciation3,000 Interest Expense2,400 Interest Payable2,400 Insurance Expense1,000 Prepaid Insurance1,000 Wages Payable200 Wages Expense200 31-Dec Sales20,000 Gain on Sale1,000 Income Summary21,000 Income Summary16,200 Wages Expense3,800 Depreciation Expense3,000 Interest Expense2,400 Cost of Goods Sold6,000 Insurance Expense1,000 Income Summary4,800 Retained Earnings4,800 Marsden CompanyMarsden CompanyCash Flow StatementIncome Statementfor year ended 31 Decemeber 2007for year ended 31 Decemeber 2007Cash Provided by Operations:Sales$20,000 Net Income$4,800 Cost of Goods Sold...
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MBA800X14 - 1-JanCash16,000 Accumulated Depreciation5,000...

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