The accountant for Reva Stewart, CPA, P.C., has posted adjusting entries (a) through (e) to the accounts

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The accountant for Reva Stewart, CPA, P.C., has posted adjusting entries (a) through (e) to the accounts at December 31, 2012. Selected balance sheet accounts and all the revenues and expenses of the entity follow in T-account form.

Accounts receivable Supplies 22,700 1,200 (a) 600 800 (e) Acc. depr.-equipment Acc. depr.-building 5,000 1,900 30,000 |(

Requirements
1. Prepare the income statement of Reva Stewart, CPA, P.C., for the year ended December 31, 2012.
2. Were 2012 operationssuccessful?

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Accounting

ISBN: 9780132439602

7th Edition

Authors: Charles T. Horngren, Walter T. Harrison

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