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ACC 201 ACC201 ACC/201 Week 3 Problem P1-44B

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ACC 201 Week 3 Problem P1-44B Preparing financial statements and evaluating business performance. Accent Photography works weddings and prom-type parties. The balance of capital was $20,000 at December 31, 2010. At December 31, 2011, the business’ accounting records show these balances: Insurance expense $8,000 Cash $31,000 Accounts payable $6,000 Advertising Expense $1,000 Service revenue $81,000 Owner withdrawal $15,000 Accounts receivable $10,000 Note payable $12,000 Owner equity? Salary expense $27,000 Equipment $60,000 Owner Investment $33,000 Prepare the following statements for Accent Photography for the year end December 31, 2011: Income statement Statement of owner’s equity Balance sheet Accounts Assignment Help, Accounts Homework help, Accounts Study Help, Accounts Course Help

ACC 201 ACC201 ACC/201 Week 3 Problem P1-44B

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