Prepare T-Accounts for the following events Required information E3-18 (Algo) Analyzing...
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Accounting
Prepare T-Accounts for the following events
Required information E3-18 (Algo) Analyzing the Effects of Transactions Using T-Accounts and Interpreting the Net Profit Margin Ratio as a Financial Analyst LO3-4, 3-6 [The following information applies to the questions displayed below.] Massa Company, which has been operating for three years, provides marketing consulting services worldwide for dot com companies. You are a financial analyst assigned to report on the Massa management team's effectiveness at managing its assets efficiently. At the start of 2019 (its fourth year), Massa's T-account balances were as follows. Dollars are in thousands Transactions for 2019: a. Provided $59,400 in services to clients who paid $49,400 in cash and owed the rest on account. b. Received $6,200 cash from clients on account. c. Received $520 in cash as interest revenue on investments. d. Paid $35,500 in wages, $12,900 in travel, $7,400 in rent, and $1,300 on accounts payable. e. Received $1,900 in cash from clients in advance of services Massa will provide next year. f. Received a utility bill for $710 for 2019 services. g. Declared and immediately paid $470 in dividends to stockholders. Accotc
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