Following is a random list showing the account balances of various assets, liabilities, revenues, and expenses for
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Question:
Following is a random list showing the account balances of various assets, liabilities, revenues, and expenses for Spiffy’s Garage at December 31, 2014, the end of its first year of operations.
Determine the expenses for the current period based on the following data:
Accounts receivable $15,000
Accounts payable 3,500
Salary expense 4,500
Repairs expense 800
Truck 8,500
Equipment 6,300
Notes payable 8,200
Cash 6,800
Supplies expense 1,600
Service revenue 12,800
Gasoline expense 800
Salary payable 2,200
Related Book For
Accounting Principles
ISBN: 978-1118342190
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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