A summary of selected ledger accounts appear below for S. Ball for the current calendar year....
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A summary of selected ledger accounts appear below for S. Ball for the current calendar year. Answer questions 1 through 4 based on this information. S. Ball, Capital 12:31 6,500 1/1 27,000 12/31 4,250 S Ball. Withdrawals 3/31 2,000 12/31 6,000 10/31 3,000 12/22 1,000 Income Summary 12:31 12.750 12/31 17,000 1231 4.250 1. What was the total amount of withdrawals for the year? 2. What was the net income? 3. What was the total revenue? 4.What were the total expenses? A summary of selected ledger accounts appear below for S. Ball for the current calendar year. Answer questions 1 through 4 based on this information. S. Ball, Capital 12:31 6,500 1/1 27,000 12/31 4,250 S Ball. Withdrawals 3/31 2,000 12/31 6,000 10/31 3,000 12/22 1,000 Income Summary 12:31 12.750 12/31 17,000 1231 4.250 1. What was the total amount of withdrawals for the year? 2. What was the net income? 3. What was the total revenue? 4.What were the total expenses?
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A ledger is used to document the business transactions of an organization The ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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