Long issued 5,000 shares of stock for $10,000. Long used $2,000 of the proceeds to purchase supplies,

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Long issued 5,000 shares of stock for $10,000. Long used $2,000 of the proceeds to purchase supplies, and borrowed $8,000 cash from the bank. What are Long's total assets ?

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Intermediate Accounting Reporting and Analysis

ISBN: 978-1285453828

2nd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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Posted Date: Apr 22, 2024 09:48 AM

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Long issued 5,000 shares of stock for $10,000. Long used $2,000 of the proceeds to purchase supplies,

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To calculate Longs total assets we need to sum up all the assets ... View the full answer

Intermediate Accounting Reporting and Analysis

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