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exercise 1-21 -...

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JENNIFER EDWARDS  _x000D_ACCT 101_x000D__x000D__x000D__x000D__x000D__x000D__x000D_ EXERCISE 1-21 A. LADY INTE Balance S July 31, 2 Assets Cash $80,000 Accounts receivable 200,000 Supplies 20,000 Total assets $300,000 LADY INTE Balance S August 31 Assets Cash $95,000 Accounts receivable 240,000 Supplies 15,000 Total assets $350,000
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JENNIFER EDWARDS  _x000D_ACCT 101_x000D__x000D__x000D__x000D__x000D__x000D__x000D_ EXERCISE 1-21 B. Stockholders’ equity, August 31 $250,000 Stockholders' equity, July 31 $210,000 Net income $40,000 C. Stockholders' equity, August 31 $250,000 Stockholders' equity, July 31 $210,000 Increase in stockholders' equity $40,000 Dividends $35,000 Net income $75,000
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JENNIFER EDWARDS  _x000D_ACCT 101_x000D__x000D__x000D__x000D__x000D__x000D__x000D_ EXERCISE 1-21 ERIORS Sheet 2012 Liabilities Accounts payable $90,000 Stockholders' Equity Capital stock $80,000 Retained earnings 130,000 Total stockholder's equity 210,000 Total liabilities and stockholders' equity $300,000 ERIORS Sheet 1, 2012 Liabilities Accounts payable $100,000 Stockholders' Equity Capital stock $80,000 Retained earnings $170,000 Total stockholder's equity $250,000 Total liabilities and stockholders' equity $350,000
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JENNIFER EDWARDS  _x000D_ACCT 101_x000D__x000D__x000D__x000D__x000D__x000D__x000D_ EXERCISE 1-21
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