solve the table given below 5 ACCOUNT NAME 5 OPERATING CASH 7 ACCTS RECEIVABLE B MACHINERY &

solve the table given below

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5 ACCOUNT NAME 5 OPERATING CASH 7 ACCTS RECEIVABLE B MACHINERY & EQUIPMENT ACCUM. DEPRECIATION 0 ACCTS PAYABLE 1 NOTES PAYABLE 2 OWNER'S CAPITAL 3 RETAINED EARNINGS 4 OWNER CONTRIBUTIONS (CURRENT YEAR) 5 OWNER WITHDRAWALS (CURRENT YEAR) 6 REVENUE 7 PRODUCT EXPENSE 8 WAGES EXPENSE 9 UTILITIES EXPENSE 0 OTHER OPERATING EXPENSES 1 DEPRECIATION EXPENSE 2 OTHER INCOME 3 ACCOUNT TYPE ASSET ASSET ASSET ASSET LIABILITY LIABILITY EQUITY EQUITY EQUITY EQUITY REVENUE EXPENSE EXPENSE EXPENSE EXPENSE EXPENSE REVENUE 4 5 Current year fixed asset changes: 6 Original cost of equipment disposed of in current year Cost of new equipment purchased in current year 7 8 DEBIT $ 99,444.20 $ $ 2,709.00 $ 37,300.00 $ 26,892.22 CREDIT $ 22,981.09 $ 47,908.21 $ 2,245.88 $ 105.00 $ 7,491.54 $ 7,491.54 2,896.98 519.00 $ 90,345.69 $ 16,503.75 $ 24,014.91 $ 105,305.27 $ $ 247,077.14 $ 247,077.14 $ 85,910.00 $ 37,300.00 5 ACCOUNT NAME 5 OPERATING CASH 7 ACCTS RECEIVABLE B MACHINERY & EQUIPMENT ACCUM. DEPRECIATION 0 ACCTS PAYABLE 1 NOTES PAYABLE 2 OWNER'S CAPITAL 3 RETAINED EARNINGS 4 OWNER CONTRIBUTIONS (CURRENT YEAR) 5 OWNER WITHDRAWALS (CURRENT YEAR) 6 REVENUE 7 PRODUCT EXPENSE 8 WAGES EXPENSE 9 UTILITIES EXPENSE 0 OTHER OPERATING EXPENSES 1 DEPRECIATION EXPENSE 2 OTHER INCOME 3 ACCOUNT TYPE ASSET ASSET ASSET ASSET LIABILITY LIABILITY EQUITY EQUITY EQUITY EQUITY REVENUE EXPENSE EXPENSE EXPENSE EXPENSE EXPENSE REVENUE 4 5 Current year fixed asset changes: 6 Original cost of equipment disposed of in current year Cost of new equipment purchased in current year 7 8 DEBIT $ 99,444.20 $ $ 2,709.00 $ 37,300.00 $ 26,892.22 CREDIT $ 22,981.09 $ 47,908.21 $ 2,245.88 $ 105.00 $ 7,491.54 $ 7,491.54 2,896.98 519.00 $ 90,345.69 $ 16,503.75 $ 24,014.91 $ 105,305.27 $ $ 247,077.14 $ 247,077.14 $ 85,910.00 $ 37,300.00

Answer rating: 100% (QA)

To solve the table given below we need to follow these steps Calculate the net income for 2021 This is done by subtracting all expenses from all revenues Net income Revenues Expenses Revenues Revenue ... View the full answer