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Following are the asset, liability, and shareholders’ equity balances of Dumont Inc. at January 31, 2015, after its first month of operations.
Required:
- Prepare an income statement and statement of changes in equity for the month ending January 31, 2015. Record the expenses in alphabetical order. Assume no share capital was issued during the month.
- Prepare a balance sheet at January 31.
- 1715 reads
