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Gosens Company began operations on December 1, 2020. Presented below is selected information related to Gosens Company at December 31, 2020: Equipment $70,000 Rent Expense $22,000 Cash 100,000 Accounts Payable 25,000 Service Revenue 135,000 Utilities Expense 23,000 Notes Payable 15,000 Maintenance Expense 13,000 Required: Compute the net income for the month of December. (show your computation).

Gosens Company began operations on December 1, 2020. Presented below is selected information related to Gosens Company at December 31, 2020: Equipment $70,000 Rent Expense $22,000 Cash 100,000 Accounts Payable 25,000 Service Revenue 135,000 Utilities Expense 23,000 Notes Payable 15,000 Maintenance Expense 13,000 Required: Compute the net income for the month of December. (show your computation).

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...
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Gosens Company began operations on December 1, 2020. Presented below is selected information related to Gosens Company at December 31, 2020: Equipment $70,000 Rent Expense $2,000 Cash 100,000 Accounts Payable 25,000 Service Revenue 135,000 Utilities Expense 23,000 Notes Payable 15,000 Maintenance Expense 13,000 Required: Compute the net income for the month of December. (show your computation).
Transcribed Image Text:Gosens Company began operations on December 1, 2020. Presented below is selected information related to Gosens Company at December 31, 2020: Equipment $70,000 Rent Expense $2,000 Cash 100,000 Accounts Payable 25,000 Service Revenue 135,000 Utilities Expense 23,000 Notes Payable 15,000 Maintenance Expense 13,000 Required: Compute the net income for the month of December. (show your computation).
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