The Harris Company started operations this year and reported the following info at the end of the
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Question:
The Harris Company started operations this year and reported the following info at the end of the year (i.e ending balances):
Equipment. 9800
Notes payable. 12600
Inventory. 5600
Maintenance expenses 450
Common stock. ?
Revenue 14,300
Cash 4,200
Cost of goods sold. 8,900
If company reported revenues of $18,700, expenses of $16,300 and dividends of $1200 in its 2nd year of operations, what amount of total equity would be reported at the end of the 2nd year?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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