Abby Roland is the bookkeeper for Cheng Company. Abby has been trying to determine the correct balance
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Instructions
Prepare a correct balancesheet.
Transcribed Image Text:
CHENG COMPANY Balance Sheet December 31, 2017 Assets Liabilities Cash Supplies Equipment Owner's drawings 13,000 Total liabilities and $15,000 Accounts payable 21,000 46,000 Owner's capital 8,000 Accounts receivable 6,500) 67,500 Total assets $82,000 owner's equity $82,000
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CHENG COMPANY Balance Sheet December 31 2017 Assets Cash 15000 ...View the full answer
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Related Book For
Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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