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The following information applies to the questions displayed below.] An analysis of transactions made during July by NepCo, an Internet service provider, during its first
The following information applies to the questions displayed below.] An analysis of transactions made during July by NepCo, an Internet service provider, during its first month of operations is shown below. Increases and decreases affecting revenues and expenses are explained. Assets Stockholders' Equity Liabilities Accounts Payable Commorn Cash Accounts Receivable Supplies Equipment Stock +16,000 Retained Earnings (a) +16,000 +915 -915 Utilities expense +6,900 +6,900 Service revenue (d)7,100 +1,180 +11,900 +4,800 +1,180 Service revenue +905 +905 -3,600 (g) -3600 (h)2,780 -840 +2,070 -2,780 Wage expense -840 Rent expense -2,070 4,930 4,830 905 11,900 3,020 16,000 3,545
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