Question
Assume the company has an increase in its Salaries Expense of 20% and a decrease in Service Revenue of 15%. Both of which will be
Assume the company has an increase in its Salaries Expense of 20% and a decrease in Service Revenue of 15%. Both of which will be settled after the vear end. Adiust and recalculate the balances in the Income Statement and Balance Sheet. All sales are on account.
2. What is the revised balance of the Service Revenue account? $12.620 $77.180 $20.620 $38.620
What is the revised Net Income/(Loss)?
4. What is the revised balance in the Retained Earnings account?
Step by Step Solution
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1 Original service revenue was X With a 15 decrease the revised service reven...
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
9780078025525, 9780077517359, 77517350, 978-0077398194
