Presented below is selected information related to Kirby Company at December 31, 2017. Kirby reports financial information monthly.
1) Determine the total assets of Kirby Company at December 31, 2017.
2) Determine the total net income that Kirby Company reported for December 2017.
3) Determine the owner’s equity of Kirby Company at December 31, 2017.
Total assets= Cash+Equipment+Accounts Receivable = $6919+$30868+$14369=$52156
Total Net Income= Service Revenue-Advertising expense- Salaries And Wages Expenses-Rent Expense
= $56945-$6386-$17563-$11176= $21820
Total Liabilities= Accounts Payable+ Notes Payable = $3193+$26610= $29803
Owner's Equity= Total assets- Total Liabilities=$52156-$29803=$22353
Presented below is selected information related to Kirby Company at December 31, 2017. Kirby reports financial informati...
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