Keeping the Fundamental Accounting Equation in mind (Assets = Liabilities + Equity), categorize the items below into
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Keeping the Fundamental Accounting Equation in mind (Assets = Liabilities + Equity), categorize the items below into the proper category to create a simple balance sheet. Please provide the balance sheet in its entirety, not just the answer to the equation.
Equipment | 250000 |
Accounts Payable | 50000 |
Cash | 25000 |
Loans Payable | 125000 |
Buildings | 400000 |
Retained Earnings | 710000 |
Land | 125000 |
Accounts Receivable | 50000 |
Inventory | 35000 |
Related Book For
College Accounting A Contemporary Approach
ISBN: 978-0077639730
3rd edition
Authors: David Haddock, John Price, Michael Farina
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