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The Following Information Is Available for the Skate and Boards

question 128

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The following information is available for the Skate and Boards Rental.
The following information is available for the Skate and Boards Rental. Using the above information prepare an Income Statement, Statement of Retained Earnings and Statement of Cash Flows for the Skate and Boards Rental for 2011. Also, prepare its Balance Sheet as of December 31, 2011. Assume that the 12/31/10 cash balance is $70,000.
Using the above information prepare an Income Statement, Statement of Retained Earnings and Statement of Cash Flows for the Skate and Boards Rental for 2011. Also, prepare its Balance Sheet as of December 31, 2011. Assume that the 12/31/10 cash balance is $70,000.

Understand the concept and implications of mutual induction.
Grasp the relation between current flow and magnetic field orientation.
Understand Lenz's and Ohm's Laws and their applications in electrical circuits.
Recognize the properties and effects of inductors in circuits.

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