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Week 2 Excel

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Accounting
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George Brown College
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Homework
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UR Event LLC Income Statement For the period ending December 31, 20xx Revenue Service Revenue $ 24,000 Total Revenue $ 24,000 $ 16,500 Total Expenses $ 15,280 Operating Income $ 1,220 $ 976 Cost of Goods Sold $ 7,500 Gross Profit Expenses Salaries Expense $ 7,500 Rent Expense $ 4,500 Suppies Expense $ 3,000 Insurance Expense $ 100 Depreciation Expense $ 80 Interest Expense $ 100 Taxes $ Net Income/Loss UR Event LLC Statement of Retained Earnings 244 For the Period Ending December 31, 20xx Retained Earnings- Beginning - Add: Net Income $ 976 Less: Dividends $ 500 Retained Earnings- Ending $ 476 UR Event LLC Balance Sheet As at December 31, 20xx Assets Current Assets Cash $ 30,400 Accounts Receivable $ 400 Prepaid Insurance $ 1,100 Supplies $ 2,000 Total Current Assets $ 33,900 Total Non Current Assets $ 9,920 Total Assets $ 43,820 Non Current Assets Office Equipment $ Accumulated Depreciation - OE $ 10,000 (80) Liabilities and Owner's Equity Liabilities Current Liabilities Accounts Payable $ 9,244 Salaries Payable $ 2,400 Interest Payable $ 100 Unearned Revenue $ 1,600 Total Current Liabilities $ 13,344 Total Long-Term Liabilities $ 10,000 Total Liabilities $ 23,344 Total Owners Equity $ 20,476 Total Liabilities & Owners Equity $ 43,820 Long-Term Liabilities Notes Payable $ 10,000 Owners Equity Common Stock $ 20,000 Retained Earnings $ 476 Users of financial ...
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