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How do I find total expense and revenues? AssetsLiabilities Stockholder's $795,000 280,000 515,000 ul August 1, 2016 totals August 3, borrowed $12,000 in cash from
How do I find total expense and revenues?
AssetsLiabilities Stockholder's $795,000 280,000 515,000 ul August 1, 2016 totals August 3, borrowed $12,000 in cash from the bank 12,000 12,000 New totals $ 807,000 292,000 515,000 0 $ 824,500$ 309,500$ 515,000 (7,500) $ 817,000 309,500 507,500 55,000 (36,300) $ 835,700$ 309,500$ 526,200 0 $ 823,200$ 297,000$ 526,200 0 $ 823,200$ 297,000$ 526,200 (280) $ 808,920$ 283,000 525,920 (3,000) $ 805,920$ 283,000 522,920 August 7, bought merchandise inventory valued at $17,500 on account 17,500 17,500 New totals August 10, paid $7,500 cash for operating expenses (7,500) 0 New totals August 14, received $55,000 in cash from sales of merchandise that had cost $36,300 0 55,000 (36,300) 0 New totals August 17, paid $12,500 owed on accounts payable (12,500) (12,500) New totals August 21, collected $22,000 of accounts receivable 0 0 New totals August 24, repaid $14,000 to the bank, plus $280 interest (14,280) (14,000) New totals August 29, paid Stacy-Ann Kelly a cash dividend of $3,000 August 31, 2016 totals (3,000) 0 b-1. How much were total revenues and total expenses during August? Total revenues Total expensesStep by Step Solution
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