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ACCT 430 Taxation Description Assignment Details In July of this year, Stephen started a proprietorship called ECR (whictistands for electric car repair), ECR uses the
ACCT 430 Taxation
Description Assignment Details In July of this year, Stephen started a proprietorship called ECR (whictistands for electric car repair), ECR uses the cash method of accounting and Stephen has produced the following finandal information for this year: ECR 514,300 for repairs completed this year. Athough Stephen is not sure which bils wil eventually be paid, he expects to collect all but about $1,900 of these rewenues next year? ECR has made the rollowing expendiures: - Shop ront (\$1, 500 per month) $27,000 - Utilities 51,075 - Concractlabor $8,250 - Compensation $21,100 - Labicy insuranse prem und (\$350 per monthy $4,200 - Term Helnourance premuts (\$150 per monthi $1.800 and he used the remainder to upgrade hes personal wardrobe, in Juy. Stephen purchased 12 monchs of liability insurance to protect againat liability. Should anyone be Step by Step Solution
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