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Horse Company has supplied the following information for 20X0: Cash balance, January 1 $32,000 Total revenues 425,000 Total expenses 435,000 All revenues are collected when earned and all expenses are paid as incurred. The total expenses include $21,000 of depreciation. Required: a. How much profit did Horse Company earn during 20X0? b. What was the ending balance of cash?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9947578

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