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Cash Accounts receivable. Supplies... Prepaid insurance. Building.... Accumulated depreciation-building.... Land. Accounts payable. Salary payable... Unearned service revenue. $ 3,700 Share capital.. 6,600 Retained earnings... 3,800
Cash Accounts receivable. Supplies... Prepaid insurance. Building.... Accumulated depreciation-building.... Land. Accounts payable. Salary payable... Unearned service revenue. $ 3,700 Share capital.. 6,600 Retained earnings... 3,800 Dividends..... 2,700 Sales revenue. 93,300 Salary expense.. 18,000 Depreciation expense-building... 47,000 Supplies expense. 5,700 Insurance expense.. 0 Advertising expense. 4,700 Utilities expense. $ 10,800 46,000 24,000 135,000 30,000 0 0 0 7,000 2,100 a. Unearned service revenue that has been earned, $1,500 b. Accrued sales revenue, $1,700 c. Supplies used in operations, $2,800 d. Accrued salary expense, $3,300 e. Prepaid insurance expired, $1,000 f. Depreciation expense, building, $2,400 Jeff Eel, the principal shareholder, has received an offer to sell Atlantic Specialists. He needs to know the following information within one hour: a. Net income for the year covered by these data b. Total assets c. Total liabilities d. Total shareholders' equity e. Proof that Total assets = Total liabilities + Total shareholders' equity, after all items are updated
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