1Based on the worksheet provided, what is the balance in the Cash account? 2.Based on the worksheet provided, what is the Net Income? 3.Based on the worksheet provided, what is the balance in the Owner's Capital account at the end of the period?
1Based on the worksheet provided, what is the balance in the Cash account? 2.Based on the worksheet provided, what is the Net Income? 3.Based on the worksheet provided, what is the balance in the Owner's Capital account at the end of the period?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 14GI
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1Based on the worksheet provided, what is the balance in the Cash account?
2.Based on the worksheet provided, what is the Net Income?
3.Based on the worksheet provided, what is the balance in the Owner's Capital account at the end of the period?
4.Based on the worksheet provided, what is the Owner's Equity at the end of the period?
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Cash
Accounts Receivable
Supplies
Accounts Payable
Owner's Capital - Owner's Drawings
Revenues
Expenses
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
1
30,000
30,000
1,800
1,800
10,000
10,000
4
4,500
4,500
5
1,250
1,250
6
16,800
16,800
7
1,730
1,730
4,000
4,000
1,120
1,120
10
7,500
7,500"
Transcribed Image Text:Tx
Cash
Accounts Receivable
Supplies
Accounts Payable
Owner's Capital - Owner's Drawings
Revenues
Expenses
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
1
30,000
30,000
1,800
1,800
10,000
10,000
4
4,500
4,500
5
1,250
1,250
6
16,800
16,800
7
1,730
1,730
4,000
4,000
1,120
1,120
10
7,500
7,500
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