Copy of Solution straight problem accounting problem

Copy of Solution straight problem accounting problem -...

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Dasmarinas Duplicators Trial Balance 31-Dec-03 Cash 110,000 Accounts Receivable 287,300 Supplies 114,400 Prepaid Insurance 40,000 Office Equipment 509,400 Notes Payable 115,000 Accounts Payable 270,400 Pacual, Capital 257,200 Pascual, Withdrawals 100,000 Repair Revenues 885,000 Salaries Expense 348,700 Advertising Expense 17,800 1,527,600 1,527,600 "(1) Revenues 885,000 Less: Expenses Depreciation expense schedule Salaries Expense (348,700) Jan 48000 Advertising (17,800) April 32425 Net income before adjustment 518,500 80425 Add: (Deduct adjustment) Depreciation Expense (80,425) Insurance expense (5,000) Salaries expense (11,300) Supplies expense (100,000) Interest expense (5,750) Bad debt expense (5,746) Adjusted net income 310,279 "(2) Capital of Jack 257,200 Jack withdrawal (100,000) Capital of Jack 1/1/04 467,479 "(3) Schedule of liabilities Divide by: Capital intererest of Jack 60% Notes payable 115000 Total partnership Capital 779,132 Accounts payable 270400 Multiply by: Capital interest of Jill 40% Salaries payable 11300 Required investment by Jill
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This note was uploaded on 03/11/2012 for the course LAWYERING 101 taught by Professor Fredfreud during the Spring '12 term at NY Law.

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Copy of Solution straight problem accounting problem -...

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