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The last question is: After doing all of these calculations, you can conclude that the amount of cash in the bank account of the company
The last question is: After doing all of these calculations, you can conclude that the amount of cash in the bank account of the company is? (.........)
DJ's DJ Service (DDS) began operating on April 1, 2019 with two employees including the owner, Darnell Jackson. The first year had decent results, as by March 31, 2020 the company earned $7800 in Revenue and still has some money left in its bank account although he still owed $350 on a short-term loan he received from the bank during the year. Some other details as of March 31, 2020: He paid salaries to himself and his assistant in the total amount of $3600 for the year. Also, he still owes his assistant $220 for additional work done which has yet to be paid. He bought a used car for $2500 near the end of the year He spent $275 in gas and maintenance on the car He was in possession of music licenses which he purchased for $500 To help Darnell prepare to generate his financial statements, you are asked to provide him with the following numerical values: Revenues = Expenses = Profit = Equity = Liabilities = Assets = After doing all of these calculations, you can conclude that the amount of cash in the bank account of the company isStep by Step Solution
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