accounting

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Description

 

Cougar’s Accounting Services provides low-cost tax advice and preparation to those with financial need. At the end of the current period, the company reports the following amounts: Assets = $15,000; Liabilities = $13,000; Revenues = $24,000; Expenses = $31,000.

 

Gator Investments provides financial services related to investment selections, retirement planning, and general insurance needs. For the current year, the company reports the following amounts:

               
  Advertising expense $ 33,000     Service revenue $ 125,100  
  Buildings   145,000     Interest expense   3,000  
  Salaries expense   64,600     Utilities expense   15,000  
  Accounts payable   5,900     Equipment   24,500  
               
  Cash   5,000     Notes payable   27,500  

 

 

1 review for accounting

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