At the beginning of January, the Logan Company reported total assets of $180,000, total liabilities of...
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At the beginning of January, the Logan Company reported total assets of $180,000, total liabilities of $30,000 and total equity of $150,000. During January the company had the following transactions: . • Purchased equipment for $2,000 on account • Sold $10,000 of services to customers and sent a bill for that amount • Purchased supplies for $500 • Paid previously owed wages of $5,500 . Received a utility bill for $500; will be paid next month What are the company's total liabilities at the end of January? At the beginning of January, the Logan Company reported total assets of $180,000, total liabilities of $30,000 and total equity of $150,000. During January the company had the following transactions: . • Purchased equipment for $2,000 on account • Sold $10,000 of services to customers and sent a bill for that amount • Purchased supplies for $500 • Paid previously owed wages of $5,500 . Received a utility bill for $500; will be paid next month What are the company's total liabilities at the end of January?
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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