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Use the following to answer questions 20-26 The following are the year-end account balances for 20XC (prior to closing) of GA Corporation: Cash $30,000
Use the following to answer questions 20-26 The following are the year-end account balances for 20XC (prior to closing) of GA Corporation: Cash $30,000 Accounts Receivable 60,000 Supplies 1,000 Equipment 780,000 Accumulated depreciation 180,000 Accounts payable 26,000 Notes payable 250,000 Common stock 200,000 Retained earnings 144,600 Dividends 50,000 Service revenue 985,000 Salaries expense 745,600 Supplies expense Rent expense Depreciation expense 3,000 22,000 60,000 Miscellaneous expense 34,000 20. S 21. $ 22.5 23. $ 24. $ 25. $ Determine total expenses for the year Determine net income for the year Determine ending retained earnings for the year Determine ending total stockholders' equity for the year Determine total Current Assets at the end of the year Determine Total Assets at the end of the year 26. Should Common stock be closed at year end?
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