What would the S/E Equity, Revenues, and Expenses be.Shareholders’ EquityAccountTrans.DebitCreditBalanceCommon stock $90 cr. AccountTrans.DebitCreditBalanceRetained earnings $5 cr. RevenuesAccountTrans.DebitCreditBalanceConsulting revenues ExpensesAccountTrans.DebitCreditBalanceOperating expense AccountTrans.DebitCreditBalanceDepreciation exp. AccountTrans.DebitCreditBalanceInterest exp.

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Answered: What would the S/E Equity, Revenues,…

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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What would the S/E Equity, Revenues, and Expenses be.

Shareholders’ Equity
Account	Trans.	Debit	Credit	Balance
Common stock				$90 cr.

Account	Trans.	Debit	Credit	Balance
Retained earnings				$5 cr.



Revenues
Account	Trans.	Debit	Credit	Balance
Consulting revenues


Expenses
Account	Trans.	Debit	Credit	Balance
Operating expense


Account	Trans.	Debit	Credit	Balance
Depreciation exp.

Account	Trans.	Debit	Credit	Balance
Interest exp.

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