Following is a random list showing the account balances of various assets, liabilities, revenues, and...
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Accounting
Following is a random list showing the account balances of various assets, liabilities, revenues, and expenses for Spiffy's Garage at December 31, 2019, the end of its first year of operations. Accounts receivable $15 000 Accounts payable 3 500 Salary expense 4 500 Repairs expense 800 Truck 8 500 Equipment 6 300 Notes payable 8 200 Cash 6 800 Supplies expense 1 600 Service revenue 12 800 Gasoline expense 800 Salary payable 2 200
The owner, Spiffy Sloan, invested $22 600 at the beginning of the year and withdrew $5 000 during the year for personal use.
a) Refer to Table 1-1. Total assets at December 31, 2019, were
b) Refer to Table 1-1. Not including the investment, the net change in owner's equity for the year ended December 31, 2019, was
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