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Category > Accounting Posted 09 Jun 2017 My Price 6.00

Organize the transaction data in accounts under on accounting equation

Nina’s Accounting Service began operation on January 1, 2012. The company experienced the following events for its first year of operations.
Events Affecting 2012:
1. Provided $120,000 of accounting services on account.
2. Collected $90,000 cash from accounts receivable.
3. Paid salaries of $24,000 for the year.
4. Adjusted the accounts to reflect management’s expectations that uncollectible accounts expense would be $1,200.

Required
a. Organize the transaction data in accounts under on accounting equation.
b. Prepare an income statement, a balance sheet, and a statement of cash flows for 2012.

Answers

Alpha Geek
(8)
Status NEW Posted 09 Jun 2017 06:06 AM My Price 6.00

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Attachments

file 1496989512-355613_1_636325679842557437_Accounting-cycle.xlsx preview (187 words )
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