Acct. 325 exam1_Melissa_Harvey

Acct. 325 exam1_Melissa_Harvey - Melissa (Lisa) Harvey EXAM...

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Melissa (Lisa) Harvey EXAM 1 1) D 2) B 3) C 4) A 5) D 6) D 7) C 8) A 9) A 10) B 11) D 12) D 13) D 14) B 15) C 16) D 17) D 18) B 19) B 20) A 21.)-1 RYAN FINANCIAL PLANNERS Income Statement For the Month end December 31, 2x10 Revenues Service revenue 3,700 Expenses Depreciation expense 2,500 Rent expense 1,900 Office supplies expense 600 All (total) Expenses 5,000 Net (loss)/Gain $(1,300) 21-2Ryan Financial Planners Statement of Retained Earnings For the month Ending December 31 2x10 Cr Dr I COMPLETED EXAM 1 WITHOUT COLLABORATING WITH ANOTHER INDIVIDUAL.
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Retained earnings, December 1 st 4,400 Less: Net loss 1,300 Dividends 2,500 3,800 Retained earnings, December 31 600 22-3Balance Sheet Ryan Financial Planners December 31, 2x10 Cash 4,400 A/R 2,200 Office supplies 1,800 Office Equipment 15,000 Less: Accumulated Depreciation(office equip)4,000 11,000 Total Assets $19,400 22.) 42,500 (1,800) 2,150 720 (870) $42,700 23.) Part I Depreciation Expense (equipment) 56,000 Accumulated Depreciation(equipment)
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This note was uploaded on 01/19/2012 for the course ACCT 305 taught by Professor Smith during the Fall '11 term at Eastern New Mexico.

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Acct. 325 exam1_Melissa_Harvey - Melissa (Lisa) Harvey EXAM...

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