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amount of total revenue recorded in the ledger amount of total expenses recorded in the ledger amount of net income for Jan. determine the inc.
amount of total revenue recorded in the ledger amount of total expenses recorded in the ledger amount of net income for Jan. determine the inc. or decrease in owners equity for jan
Mountain Top Realty UNADJUSTED TRIAL BALANCE January 31,20Y5 4. Determine the following: a. Amount of total revenue recorded in the ledger. b. Amount of total expenses recorded in the ledger. c. Amount of net income for January. 5. Determine the increase or decrease in owner's equity for January. Inuary 1, 20Y5, Fahad Ali established Mountain Top Realty, which completed the following transactions during the month: Jan. . 1 Fahad Ali transferred cash from a personal bank account to an account to be used for the business, $31,500. 2 Paid rent on office and equipment for the month, $2,750. 3 Purchased supplies on account, $2,350. 4 Paid creditor on account, $800. 5 Earned fees, receiving cash, $16,160. 6 Paid automobile expenses (including rental charge) for month, $1,640, and miscellaneous expenses, $450. 7 Paid office salaries, $2,400. 8 Determined that the cost of supplies used was $1,150. 9 Withdrew cash for personal use, $2,000. RequiredStep by Step Solution
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