The following information is from a new business. Comment on the year-to-year changes in the accounts and
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The following information is from a new business. Comment on the year-to-year changes in the accounts and possible sources and uses of funds (how were the funds obtained and used).
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End of Year 1 End of Year 2 End of Year 3 Assets $245,000 286,000 212,000 Liabilities = $120,000 150,000 80,000 Owner's Equity $125,000 136,000 132,000
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The owners equity increased from 120000 in Year 1 to 286000 in Year 3 indicating tha...View the full answer
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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