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Please answer accurately and as soon as possible the following problem. Will rate you highly based on fast response, thank you so much! a. c.
Please answer accurately and as soon as possible the following problem. Will rate you highly based on fast response, thank you so much!
a. c. C. Questions: Q1 (21 Points, 3 Points each): Prepare the journal entries for each transaction and post those journal entries to the T-accounts provided: Provided $116,000 in services to clients who paid $96,000 in cash and owed the rest on account. b. Received $11,200 cash from clients on account. Received $800 in cash as income on investments. d. Paid $72,000 in wages, $24,000 in travel, $15,200 in rent, and $3,200 on accounts payable. Received $3,200 in cash from clients in advance of services Massa will provide next year. f Received a utility bill for $1,600 for 2017 services to be paid in 2018. Paid $960 in dividends to stockholders. Q2 (12 Points, 2 points each): Compute ending balances in the T-accounts to determine amounts for the following on December 31, 2017: Revenue $ - Expenses $ = Net Income Assets $ Liabilities $ + Stockholders' Equity $ Q3 (8 Points, 4 Points each): Calculate (a) the current ratio at the end of 2017 and (b) the net profit margin ratio for 2017. (Round your answer to 4 decimal places.) 8 Step by Step Solution
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