Presented below is selected information related to Kirby Company at December 31, 2017. Kirby reports financial information

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Presented below is selected information related to Kirby Company at December 31, 2017. Kirby reports financial information monthly.

(a) Determine the total assets of Kirby Company at December 31, 2017.
(b) Determine the net income that Kirby Company reported for December 2017.
(c) Determine the owner€™s equity of Kirby Company at December 31,2017.

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Accounting Principles

ISBN: 978-1118875056

12th edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Mar 02, 2015 09:19 AM

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Presented below is selected information related to Kirby Company at December 31, 2017. Kirby reports financial information

Question:

Accounts Payable 3,000 Salaries and Wages Expee 6500 Cash Advertising Expense Service Revenue Equipment 6,500 Notes Payable 6,000 25,000 10,500 13,500 7,500 Rent Expense 53,500 Accounts Receivable 29,000 Owner's Drawings

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a The total assets are 49000 comprised of Cash 6500 Accounts Receivable 135...View the full answer

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