Direction: Using the basic accounting equation answer the following problems Kends, Inc., is newly established corporation engage in a buying and selling of the cars. Its total liabilities to finance the initial operation of the business totaled 25,000,000 which is twice as much as the equity put into the business. How much is the total assets of the business.?

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Description: Direction: Using the basic accounting equation answer the following problems Kends, Inc., is newly established corporation engage in a buying and selling of the cars. Its total liabilities to finance the initial operation of the business totaled 25,

Total liabilities = 25,000,000 Equity = Total liabilities/2 = 25,000,000/2 =…

Answered: Kends, Inc., is newly established…

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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Direction: Using the basic accounting equation answer the following problems

Kends, Inc., is newly established corporation engage in a buying and selling of the cars. Its total liabilities to finance the initial operation of the business totaled 25,000,000 which is twice as much as the equity put into the business. How much is the total assets of the business.?

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