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How to calculate net Income?
It's not even part of the question but I'm totally stumped and having a blonde moment.
Below is the adjusted Trial balance. Acct Payable 350 Accumulated depreciation 3,500 Cash 12,200 Expenses 32,400 Partner1, Capital 4,600 Partner 1, Drawing 26,000 Note payable 2000 Office equipment 8600 Office Supplies 1370 Revenues 96,000 Partner 2, Capital 3,800 Partner 2, Drawing 31,000 Utilities Payable 120 I would really appreciate if someone could explain it to me again, thanks! |
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