Question
i need help. Please fill in the totals Total revenues $ Total expenses Net income Smith capital ending balance Cash Total assets Accounts payable Total
i need help.
Please fill in the totals
Total revenues | $
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Total expenses |
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Net income |
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Smith capital ending balance |
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Cash |
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Total assets |
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Accounts payable |
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Total liabilities and equity |
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1. Apples for the Teacher, Inc. received $55,000 from owner, T. Smith. (post after each journal entry)
2. Bought $500 worth of supplies on account (credit).
3. Received $9,500 cash from customers for services provided.
4. Performed services for customers on credit $5,500.
5. Paid $250 on the credit created in #2.
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6. Purchased $5,000 for 2 years of insurance
7. Used cash to purchase equipment for $4,000.
8. T. Smith withdrew $3,000 for personal use.
9. Calculate balances in the T-accounts and prepare an unadjusted trial balance.
10. From insurance purchased in #6, one year of insurance expired.
11. Counted supplies and found $188 used of the $500 purchased in #2.
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