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Need help with accounting Marsha Solomon, a physiotherapist, opened a practice. The business completed the following transactions: May 1 Solomon invested $25,000 cash to start
Need help with accounting
Marsha Solomon, a physiotherapist, opened a practice. The business completed the following transactions: May 1 Solomon invested $25,000 cash to start her practice. The business issued shares to Solomon. 1 Purchased medical supplies on account totalling $9,000. 2 Paid monthly office rent of $4,000. 3 Recorded $8,000 revenue for service rendered to patients, received cash of $2,000, and sent bills to patients for the remainder. Which of the transactions of Marsha Solomon, P.T., increased the total assets of the business? For each transaction, identify the asset that was increased or decreased. May 1: This first transaction total assets. The asset that was May 1: This second transaction V total assets. The asset that was May 2: This transaction total assets. The asset that V was May 3: This transaction total assets. The asset(s) that was (were) Assume that Navy Port Inc. reported the following summarized data at December 31, 2020. Accounts appear in no particular order; dollar amounts are in millions. B (Click the icon to view the data.) Prepare the trial balance of Navy Port at December 31, 2020. List the accounts in their proper order. How much was Navy Port's net income or net loss? LIII Prepare the trial balance of Navy Port Inc. at December 31, 2020. List the accounts in their proper order. (Leave unused cells blank.) Data Balance (in millions) Account Title Debit Credit Revenues $ 327 Other liabilities 46 Other assets 141 Cash and other current assets 61 Accounts payable 13 284 Expenses. Shareholders' equity 100 Total Compute Navy Port Inc.'s net income or net loss. (Enter the amount as a positive value.) Print Done Navy Port Inc.'s net is $ millionStep by Step Solution
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