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5. Prepare a Statement of Financial Position using the ff. accounts (one in account form and one in report form) Cash-5,000 Owner's Equity-40,000 Accounts Payable-22,400 Loans Payable-77,500 Accounts Receivable-2,600 Supplies-2,300 Equipment-17,000 Building-113,000 * USE A HEADING

5. Prepare a Statement of Financial Position using the ff. accounts (one in account form and one in report form) Cash-5,000 Owner's Equity-40,000 Accounts Payable-22,400 Loans Payable-77,500 Accounts Receivable-2,600 Supplies-2,300 Equipment-17,000 Building-113,000 * USE A HEADING

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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5. Prepare a Statement of Financial Position using the ff. accounts (one in account form and one in report form) Cash-5,000 Owner's Equity-40,000 Accounts Payable-22,400 Loans Payable-77,500 Accounts Receivable-2,600 Supplies-2,300 Equipment-17,000 Building-113,000 * USE A HEADING
Transcribed Image Text:5. Prepare a Statement of Financial Position using the ff. accounts (one in account form and one in report form) Cash-5,000 Owner's Equity-40,000 Accounts Payable-22,400 Loans Payable-77,500 Accounts Receivable-2,600 Supplies-2,300 Equipment-17,000 Building-113,000 * USE A HEADING
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