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would like to see work for the questions of applicable. thank you 1. At the end of its first year of operations. Matlocke Company has
would like to see work for the questions of applicable. thank you
1. At the end of its first year of operations. Matlocke Company has total assets of $2.000,000 and total liabilities of $1,200,000. The owner originally invested $200,000 in the business, but has not made any further investments or taken any withdrawals. What is the first year's net income for Matlocke Company? A) 600,000. B) $800,000. C $1,000.000. D) $3,000,000. E) $3,200,000. 2. The following information is available for Dahlia Company for last May. How much is the net income for the month? Employee sd on bank loan12,500 Interest paid on bank loan Rent paid to landlored Sales $15,000 2,500 40,000 B) $10,000. C) $20,000. D) $30,000. E) $35,000. 3. Jellybean Company reported owner's equity of $32,000 on its December 31, 2015 balance sheet The following information is available for the year ended December 31, 2016: There were no withdrawals made in 2016. Revenues $73,000 Expenses 59,000 Liabilities 11,000 What are the total assets of Jellybean Company at December 31, 2016? A) $14,000 B) $25,000. C) $35,000. D) $46,000. E) $57,000Step by Step Solution
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