P1-61 A (similar to) -Question Help * The assets and liabilities of Post Weed, I

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P1-61 A (similar to) -Question Help * The assets and liabilities of Post Weed, Inc., as of December 31, 2016, and revenues and expenses for the year ended on that date follow (Click the icon to view the account totals.) Post Weed, Inc. Income Statement 27,000 99,800 7,000 40,000 84,800 10,500 Note payable Interest axpense Interest payable. 2,600 Property tax expense Accounts payable . 21,000 Rent expense expense 108,500 Accounts receivable 406,000 Service revenue 42,000 Supplies. Building 6,100 9,000 earnings was $364,000, and dividends totaled $109,000 for he year Print Done Net income (loss) Choose from any list or enter any number in the input fields and then click Check Answer Clear All

Explanation / Answer

Assuming Supplies is an Assets

Revenue Service Revenue 458600 Expense Utilities expense 9000 Rent expense 40000 Propert tax expense 7000 Salary expene 108500 Interest expense 10500 175000 Net Income 283600

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