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what is accounting

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what is accounting
Answered Same Day Jun 28, 2021

Solution

Khushboo answered on Jul 03 2021
151 Votes
Sheet1
                                                        Reconciliation
                Accounts receivable                                        Net income    168000
        Opening balance    195000    Cash collection    1387500                    Cash receipt from customers    1387500            Add: loss on sale of equipment    4500
        Sales revenue    1425000                            Payment to supplier    -912000            Less: gain on sale of debt investment    -22500
                                        Payment for operating expense    -339000            Add: Depreciation    33000
                Closing balance    232500                    Income tax paid    -64500            Add: Bad debt expense    3000
                                        Cash from operating activities    72000            Change in a/c payables    9000
                                                        Change in inventory    -21000
                                                        Change in a/c receivbales    -37500
                Alowance for doubtful debts                        Purchase of debt investment    -7500            Less: Income tax paid    -64500
                Opening balance    12000                    Sale of debt investment    75000            Cash from operating activities    72000
                Bad debt...
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