Question
Suppose that the beginning balance of the cash account is 7.000 TL. During the period, the following transactions occurred: (a) A service fee of 500
Suppose that the beginning balance of the cash account is 7.000 TL. During the period, the following transactions occurred: (a) A service fee of 500 TL was earned on the account. (b) A depreciation expense of 200 TL was recorded. (c) 230 TL of interest expense was accrued on the bank loan. (d) 100 TL of an insurance fee for the current year was paid. (e) 2.000 TL of cash was contributed by a shareholder. (f) 1.500 TL of salaries were paid to employees. Assuming that these are the only information we have, which one of the following gives the correct figures for the ending cash balance and net profit/(loss), respectively?
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