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Exercise 4-13 At the end of its fiscal year, the adjusted trial balance of Ivanhoe Company is as follows: Credit $5,700 IVANHOE COMPANY Adjusted Trial
Exercise 4-13 At the end of its fiscal year, the adjusted trial balance of Ivanhoe Company is as follows: Credit $5,700 IVANHOE COMPANY Adjusted Trial Balance July 31, 2017 Debit Cash $2,520 Accounts receivable 11,440 Prepaid rent 500 Supplies 750 Debt investments 8,000 Equipment 19,950 Accumulated depreciation equipment Patents 18,300 Accounts payable Interest payable Unearned revenue Notes payable (due on July 1, 2019) B. Ivanhoe, capital B. Ivanhoe, drawings 17,000 Service revenue Interest revenue Depreciation expense 2,850 Interest expense 3,000 Rent expense 18,550 Salaries expense 36,750 Supplies expense 20,850 $160,460 4,255 750 2,050 45,000 28,285 74,100 320 $160,460 Prepare an income statement for the year. Mr. Ivanhoe invested $5,000 cash in the business during the year. number e.g. -45 or parentheses c.9. (45).) IVANHOE COMPANY Income Statement LINK TO TEXT Prepare a statement of owner's equity for the year. Mr. Ivanhoe invested $5,000 cash in the business during the year. (List IVANHOE COMPANY Statement of Owner's Equity
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