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The balance sheet of Riverdale Publishing at June 30 showed assets of $120,000 and liabilities of $45,000. What was the shareholders' equity at June 30? a. $75,000 b. $165,000 c. $45,000 d. $120,000

The balance sheet of Riverdale Publishing at June 30 showed assets of $120,000 and liabilities of $45,000. What was the shareholders' equity at June 30? a. $75,000 b. $165,000 c. $45,000 d. $120,000

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 4SEQ: If total assets are $20,000 and total liabilities are $12,000, the amount of stockholders’ equity...
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The balance sheet of Riverdale Publishing at June 30 showed assets of $120,000 and liabilities of $45,000. What was the shareholders' equity at June 30? a. $75,000 b. $165,000 c. $45,000 d. $120,000
Transcribed Image Text:The balance sheet of Riverdale Publishing at June 30 showed assets of $120,000 and liabilities of $45,000. What was the shareholders' equity at June 30? a. $75,000 b. $165,000 c. $45,000 d. $120,000
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