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Calumet College Of St. Joseph Operations And Supply Chain Management Assignment Help - Accounting 3

Question - Selected amounts at December 31, 2003, from the Hay and Barnabas Company s information system appear as follows: Cash paid employees for salaries and wages $300,000 Cash collected from sales customers $1,850,000 Bonds payable $500,000 Cash $150,000 Common stock $60,000 Equipment $840,000 Prepaid insurance $30,000 Inventory $250,000 Prepaid rent $140,000 Retained earnings $130,000 Salaries and wages expense $328,000 Sales $2,000,000 You are to complete each of the following tasks. Part A There are five adjustments that need to be made before the financial statements can be prepared at year end. Show the effect of each of the following (a e) on the accounting equation. 1. The equipment (purchased on January 1, 2003) has a us ...Read More

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