CALCULATION OF EXPENSE FROM BALANCE SHEET CHANGES. The following information is available for the month of November
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CALCULATION OF EXPENSE FROM BALANCE SHEET CHANGES. The following information is available for the month of November 19x3:
a) The only change in equity during November was net income.
b) During November assets increased by $10,000 and liabilities increased by $2,000.
c) Revenue for November was $20,000.
REQUIRED:
Determine the amount of expense for the month of November 19x3. l01
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