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Q#2) Following are the accounts maintained by OLX corporation. You need to prepare the income statement and the statement of owners equity for the month
Q#2) Following are the accounts maintained by OLX corporation. You need to prepare the income statement and the statement of owners equity for the month ended December 31, 2020. (
Cash $10,000 Accounts Receivable $200,000 Service Revenue $150,000
Rent Expense 18,000 Insurance Expense 12000 Drawings 11000
Office Supplies 2000 Salaries expense 10,000 Salaries Payable 5000
Owners equity, December 1,2020 $60,000 Interest Expense 15,000
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