MBA800X17 - 1-JanCash13,000 Loss on Sale2,000 Accumulated...

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Unformatted text preview: 1-JanCash13,000 Loss on Sale2,000 Accumulated Depreciation5,000 Equipment20,000 1-Jan Equipment40,000 Notes Payable40,000 11-Jan Inventory13,000 Accounts Payable13,000 21-Feb Cash25,000 Sales25,000 Cost of Goods Sold5,000 Inventory5,000 23-Mar Cash3,000 Common Stock3,000 14-Apr Accounts Payable8,000 Cash8,000 21-May Wages Expense4,000 Cash4,000 18-Sep Retained Earnings1,000 Cash1,000 Adjusting:31-Dec Depreciation Expense8,000 Accumulated Depreciation8,000 Interest Expense3,200 Interest Payable3,200 Insurance Expense1,000 Prepaid Insurance1,000 Wages Payable200 Wages Expense200 Closing:31-Dec Sales25,000 Income Summary25,000 Income Summary23,000 Loss on Sale2,000 Wages Expense3,800 Depreciation Expense8,000 Interest Expense3,200 Cost of Goods Sold5,000 Insurance Expense1,000 Income Summary2,000 Retained Earnings2,000 Landsburg CompanyLandsburg CompanyCash Flow StatementIncome Statementfor year ended 31 December 2010for year ended 31 December 2010Cash Provided by Operations:Sales$25,000...
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This note was uploaded on 07/28/2011 for the course MBA 800 taught by Professor Wallin during the Summer '11 term at Ohio State.

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MBA800X17 - 1-JanCash13,000 Loss on Sale2,000 Accumulated...

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