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(Answered) Calcualation of net income and current assets


1 A list of financial statement items for Luxmann Company includes the following;Accounts receivable $14,500 Prepaid insurance $3,400;Cash $18,400 Supplies $1,800;Short-term investments $6,200;Prepare the current assets section of the balance sheet listing the items in the proper sequence.;2. Before month-end adjustments are made, the February 28 trial balance of Bose's Enterprise contains revenue of $11,000 and expenses of $7,600. Adjustments are necessary for the following items;? Depreciation for February is $1,200.;? Revenue earned but not yet billed is $2,800.;? Accrued interest expense is $800.;? Revenue collected in advance that is now earned is $2,500.;? Portion of prepaid insurance expired during February is $500.;Instructions;Calculate the correct net income for Bose's Enterprise for February 3.
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Calcualation of net income and current assets

 


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