Problem 1-7A - Matthew McCoy Problem 1-7A Assets =...

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Unformatted text preview: Matthew McCoy Problem 1-7A Assets = Liabilities + Equity Accounts Office Accounts H. Graham, H. Graham, Cash + Receivable + Equipment = Payable + Capital - Withdrawals + Revenues - Expenses $43,000 $43,000 ($2,200) ($2,200) $1,940 $1,940 ($750) ($750) $5,800 $5,800 $2,800 $2,800 ($850) ($850) $2,800 ($2,800) $4,000 $4,000 $4,000 ($4,000) ($1,940) ($1,940) $85 ($85) ($850) ($850) ($400) ($400) ($260) ($260) ($2,000) ($2,000) Balance= $46,350 $1,940 $85 $43,000 ($2,000) $12,600 ($5,395) $48,290 = $48,290 The Graham Co. Income Statement For Month Ended May 31, 2009 Revenues Total revenues . $12,600 Expenses Rent expense.$ 2,200 Cleaning expense..$ 750 Salaries expense.$ 1,700 Advertising expense$ 85...
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Problem 1-7A - Matthew McCoy Problem 1-7A Assets =...

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