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Boulder Corporation, a ski tuning and repair shop, opened November 1,2017 . The company carefully kept track of all its cash receipts and cash payments.

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Boulder Corporation, a ski tuning and repair shop, opened November 1,2017 . The company carefully kept track of all its cash receipts and cash payments. The following information is avallable at the end of the ski season, April 30, 2018. You learn that the repair equipment has an estimated useful life of 5 years. The company rents space at a cost of $170 per month on a one-year lease. The lease contract requires payment of the first and last months' rent in advance, which was done. The part-time helper is owed $410 at April 30, 2018, for unpaid salaries. At April 30,2018 , customers owe Boulder Corporation $370 for services they have received but have not yet paid for. (a) Using Taccounts, calculate the amounts that would be reported on an accrual bas is for each of the following: Accounts Receivable, Accumulated Depreciation-Equipment, Advertising Expense, Cash, Common Shares, Depreciation Expense, Equipment, Income Tax Expense. Prepaid Rent, Rent Expense. Salaries Expense. Salaries Payable, Service Revenue, and Utilities Expense. Based on the balances determined for the above accounts, calculate the amount for Retained Earnings. Using T-accounts, calculate the amounts that would be reported on an accrual basis for each of the following: Accounts Receivabie, Accumulated Depreciation-Equipment, Advertising Expense, Cash, Common Shares, Depreciation Expense. Equipment. Income Tax Expense. Prepaid Rent. Rent Expense. Salaries Expense. Salaries Payable. Service Revenue, and Utilities : the amount for Retained Earnings

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