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Consider the following transactions for Gamma Ltd. for the month of May: Sales Revenue: $100,000 Purchases: $45,000 Rent Expense: $9,000 Utilities Expense: $7,000 Salaries Expense:
Consider the following transactions for Gamma Ltd. for the month of May:
- Sales Revenue: $100,000
- Purchases: $45,000
- Rent Expense: $9,000
- Utilities Expense: $7,000
- Salaries Expense: $20,000
- Depreciation Expense: $5,000
Calculate Gamma Ltd.'s Net Income and prepare an Income Statement for the month of May.
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Introduction To Financial Accounting
Authors: Anne Marie Ward, Andrew Thomas
7th edition
77138449, 978-0077132682, 77132688, 978-0077138448
