Evaluate the financial status of my icecream business chills and fruit by looking at the general journal. Is my business making a profit or operating at a loss? and how do you know??? Event1235678910General JournalCashCommon StockMachineryCashNotes Payable ($30,000 - $10,000)Prepaid RentCashSuppliesAccounts PayableCashSalesAccounts ReceivableSalesSalaries ExpenseCashUtilities ExpenseUtilities PayableNotes PayableInterest ExpenseCash ($10,000+ $100)CashAccounts Receivable$69$$69$$69$$$$$$Debit100,00030,00012,0007,00012,0008,00014,0004,00010,0001004,000SSSS65SSSSSSS65Credit100,00010,00020,00012,0007,00012,0008,00014,0004,00010,1004,000

Journal Entry - Journal entry is the recording of business transaction in books of account, this is…

Answered: Evaluate the financial status of my…

Evaluate the financial status of my icecream business chills and fruit by looking at the general journal. Is my business making a profit or operating at a loss? and how do you know???

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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