Income statememt? AccountCashA/RRent ExpDividendsSales ReturnWage ExpCapitalA/PUnearned RevenueSalesRE at the beginningDR$40,00020,00012,0005,0008,00015,000CR$20,00010,0005,00035,00030,000

Answered: Account Cash A/R Rent Exp Dividends DR…

Business

Accounting

Account Cash A/R Rent Exp Dividends DR $40,000 20,000 12,000 5,000 CR

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.

Question

Income statememt?

Account
Cash
A/R
Rent Exp
Dividends
Sales Return
Wage Exp
Capital
A/P
Unearned Revenue
Sales
RE at the beginning
DR
$40,000
20,000
12,000
5,000
8,000
15,000
CR
$20,000
10,000
5,000
35,000
30,000

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