P1.4 Joe Fast started a mobile snack food service on January 2, 2003, investing $12,000 cash deposited

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P1.4 Joe Fast started a mobile snack food service on January 2, 2003, investing $12,000 cash deposited in a bank account in the name of “Fast Snacks.” He purchased a second-hand, fully equipped truck. Joe operated on the cash basis of accounting, and at year’s end, he asks you to help him find his income or loss for the first year of operation. You have determined the following:

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Hospitality Management Accounting

ISBN: 9780471483533

8th Edition

Authors: Michael M. Coltman, Martin G. Jagels

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