Question
XYZ Company has the following General Ledger accounts and their balances. This is the first month operations for XYZ Company. January 31, xxx1 Account Description
| XYZ Company has the following General Ledger accounts and their balances. This is the first month operations for XYZ Company. January 31, xxx1 | |
| Account Description | Balance |
| Accounts Payable | $ 1,920 |
| Capital Stock | $ 48,000 |
| Cash | $ 5,600 |
| Dividends | $ 7,200 |
| Land | $ 50,000 |
| Miscellaneous Expense | $ 1,320 |
| Rent Expense | $ 7,640 |
| Revenues | $ 36,000 |
| Salaries and Wages Expense | $ 12,000 |
| Utilities Expense | $ 2,160 |
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Accounting And Finance For Non-Specialists
Authors: Eddie McLaney, Peter Atrill
3rd Edition
9780273646327
