Financial information related to Ebony Interiors for February and March 20Y3 is as follows: a. Prepare balance

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Financial information related to Ebony Interiors for February and March 20Y3 is as follows:

March 31, 20Y3 February 28, 20Y3 Cash Accounts receivable Supplies Accounts payable Common stock Retained earnings $320,


a. Prepare balance sheets for Ebony Interiors as of February 28 and March 31, 20Y3.

b. Determine the amount of net income for March, assuming that no additional common stock was issued and no dividends were paid during the month.

c. Determine the amount of net income for March, assuming that no additional common stock was issued, but dividends of $50,000 were paid during the month.

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Forensic And Investigative Accounting

ISBN: 9780808056300

10th Edition

Authors: G. Stevenson Smith D. Larry Crumbley, Edmund D. Fenton

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