Solution-What are total assets at the end of the month

What are total assets at the end of the month

Assignment Help Accounting Basics

Reference no: EM133101559

Question - The Balance Sheet at the beginning of the month shows Total Assets of $50,200 and during the month the following transactions occurred: (a) Provided services in cash for $10,740; (b) Purchase current month insurance on account for $10,400; (c) Paid owed utilities from last month for $3,320; and (d) Received a cash payment from a customer that owed $7,500 on account.

Required -

1 - What are Total Assets at the end of the month?

2 - By how much did the Total liabilities changed?

3 - If these were all transactions, how much is the net income (loss) of the period?

Reference no: EM133101559

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What are total assets at the end of the month

Reference no: EM133101559

Reference no: EM133101559

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