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The following is the selected balances in the financial statements of Sherry Company. During audit, the auditor detected that the following transaction was not recorded:
The following is the selected balances in the financial statements of Sherry Company. During audit, the auditor detected that the following transaction was not recorded: Paid $5,000 to bank on a loan of which $1000 was for interest and rest was for payoff of loan principal. What would be the balance for the above items after recording the above transaction? Example of Answer: Revenues =2000 Expenses =1800 Net Income =200 so on (No decimal point, comma, space, or \$ sign) Show negative amount with a minus. Example: Net Income =3000 What would be the balance for the above items after recording the above transaction? Example of Answer: Revenues =2000 Expenses =1800 Net Income =200 so on (No decimal point, comma, space, or \$ sign) - Show negative amount with a minus. Example: Net Income =3000 Revenues = A Expenses = Net Income = Total Assets = Total Liabilities = A Total SE = A Net Cash Flows from Operating Activities = Net Cash Flows from Investing Activities = A Net Cash Flows Financing Activities = Kamp Corporation reports the following information: Compute earnings per share. Example of Answer: 4.60 or -4.60 (Two decimal points. No comma, space, or $ sign. Show loss with -)
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