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QUESTION 14 Jim Panzie, owns a portable pet store which uses the perpetual inventory system. The book keeper Sally Mander has provided the following partial
QUESTION 14 Jim Panzie, owns a portable pet store which uses the perpetual inventory system. The book keeper Sally Mander has provided the following partial list of account balances (in alphabetical order) on December 15, 2021. REQUIRED: Using the accounts provided, calculate the profit or income from operations. Accounts Payable $ 23 Accounts Receivable 23 Accumulated Amortization 64 Allowance for Doubtful 2 Accounts Cash 10 Cost of Goods Sold 687 426 J. Panzie, Capital J. Panzie, Withdrawals Equipment 89 180 N. Interest Earned 4 163 Inventory Rent Expense Salaries Expense Sales Discounts 155 9 Sales Retums and Allowances 32 Sales 1,076 14 Supplies Uneamed Sales
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