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ABC Company General Ledger As of December 31, 20X1 Amount Assets Cash $29,400 Accounts receivable 8,100 Supplies 4,900 Prepaid rent 20,200 Equipment (net) 63,800 Liabilities
ABC Company | |
General Ledger | |
As of December 31, 20X1 | |
Amount | |
Assets | |
Cash | $29,400 |
Accounts receivable | 8,100 |
Supplies | 4,900 |
Prepaid rent | 20,200 |
Equipment (net) | 63,800 |
Liabilities | |
Accounts payable | $ 6,300 |
Salaries payable | 4,000 |
Interest payable | 1,100 |
Utilities payable | 3,700 |
Bonds payable | 38,400 |
Stockholders' equity | |
Common stock | $60,900 |
Retained earnings | 0 |
Dividends | 2,100 |
Revenues | |
Sales revenue | $54,200 |
Interest revenue | 1,400 |
Expenses | |
Cost of goods sold | $15,100 |
Salaries expense | 7,100 |
Rent expense | 4,900 |
Supplies expense | 1,300 |
Utilities expense | 4,800 |
Depreciation expense | 2,500 |
Interest expense | 2,100 |
Income tax expense | 3,700 |
What is the amount of earnings before taxes (EBT) to be reported on ABC Companys 12/31/X1 income statement? $15,000 $17,800 $12,000 $18,500
What is the amount of net income to be reported on ABC Companys 12/31/X1 income statement? $17,800 $12,000 $14,100 $18,500
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