Final assignment17-5-2020(1) ( ) - Microsoft Word ( ) W . . = Principle of Accounting and Finance Final Assignment 17/5/2020 am 11 - Q1. A) The following information is for Palestine Co. for the year 2016: Total assets, Jan. 1, 2016 $ 230000 Liabilities, Jan 1, 2016 $ 120000 Total assets, Dec. 31, 2016 $ 300000 Liabilities, Dec. 31, 2016 90000 Drawings , 2016 $ 2500 Expenses, 2016 $ 50000 What are the revenues of 2016? B) 1. Received $50,000 cash and issued share to the owners Journalize then post the following transactions to the ledger accounts. 2. Paid $40,000 cash for land 3. Bought $3,700 of supplies on account 4. Received $7,000 cash from customers for service revenue earned == : 1 : 03:00 L L] | IP . e Type here to search ======= W ENG [1[ =/=0/ Final assignment17-5-2020(1) ( ) - Microsoft Word ( ) W . . = Principle of Accounting and Finance Final Assignment 17/5/2020 am 11 - Q1. A) The following information is for Palestine Co. for the year 2016: Total assets, Jan. 1, 2016 $ 230000 Liabilities, Jan 1, 2016 $ 120000 Total assets, Dec. 31, 2016 $ 300000 Liabilities, Dec. 31, 2016 90000 Drawings , 2016 $ 2500 Expenses, 2016 $ 50000 What are the revenues of 2016? B) 1. Received $50,000 cash and issued share to the owners Journalize then post the following transactions to the ledger accounts. 2. Paid $40,000 cash for land 3. Bought $3,700 of supplies on account 4. Received $7,000 cash from customers for service revenue earned == : 1 : 03:00 L L] | IP . e Type here to search ======= W ENG [1[ =/=0/