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You run a small housecleaning business to help you pay for college. You hire other students on an hourly basis and Here's the trial
You run a small housecleaning business to help you pay for college. You hire other students on an hourly basis and Here's the trial balance for your company at 12/31/x2 (your second year of operations): My HouseCleaning Business Trial Balance December 31, 20X2 Debit Credit Cash Accounts Receivable Cleaning Supplies on hand Equipment $2,000 2,000 450 4,300 Accumulated Depreciation - Equipment Accounts Payable Equipment Loan Payable $1,610 20 1,500 Common Stock 500 Retained Earnings 150 Service Revenue 24,000 Worker wages 14,075 Cleaning supplies expense 2,685 Gas expense 875 Business taxes and insurance 525 Depreciation expense 770 Interest expense 100 $27,780 $27,780 Based on the above trial balance, calculate the totals for: Total assets at 12/31/X2 $ 7140 Total liabilities at 12/31/X2 $ 1520 Total equity at 12/31/X2 $ Net income for the year ended 12/31/X2 $
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