Business, 10.03.2020 04:25 joThompson
Pizza Express Inc. began the Year 2 accounting period with $2,500 cash, $1,400 of common stock, and $1,100 of retained earnings. Pizza Express was affected by the following accounting events during Year 2:
1. Purchased $3,600 of supplies on account.
2. Earned and collected $12,300 of cash revenue.
3. Paid $2,700 cash on accounts payable.
4. Adjusted the records to reflect the use of supplies. A physical count indicated that $250 of supplies was still on hand on December 31, Year 2.
Show the effects of the events on the financial statements using a horizontal statements.
Answers: 1
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Pizza Express Inc. began the Year 2 accounting period with $2,500 cash, $1,400 of common stock, and...
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