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Based on the following data, calculate the net income for the period and the balance in the account for Nuno Texeira, Capital after the closing entry has been posted.Cash .................. $ 12,000Accounts receivable........... 15,000Prepaid rent ............... 1,000Ironworking equipment........... 30,000Accumulated depreciation, equipment ..... 9,000Accounts payable............ 5,000Notes payable to bank ........... 10,000Nuno Texeira, Capital ........... 25,000Service revenue ............. 30,000Depreciation expense, equipment ....... 3,000Rent expense ............... 6,000Salary expense ............... 14,000
assume the dollar amounts given above are for the equivalent of 40000 units produced during the year. compute the
During the year, he made the following contributions to recognized public charities: $5,000 cash 1,000 shares of Able Corporation common stock, acquired in 1979 (cost and fair market value of $7,000) Considering the charitable contribution deducti..
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1. when individual products become identifiable.2. the difference in revenue between alternatives.3. a cost incurred by
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