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The following is known about Lucas' Gym & Fitness, Inc. for the year 2020. What were Non-current Assets on December 31? Dividends Expenses $40,000 $20,000 declared Retained Total Assets, Earnings, 300,000 560,000 December 31 January 1 Current Assets, Contributed 160,000 -0- December 31 Capital Current Net Increase in Liabilities, 45,000 105,000 Equity, 12/31 December 31

The following is known about Lucas' Gym & Fitness, Inc. for the year 2020. What were Non-current Assets on December 31? Dividends Expenses $40,000 $20,000 declared Retained Total Assets, Earnings, 300,000 560,000 December 31 January 1 Current Assets, Contributed 160,000 -0- December 31 Capital Current Net Increase in Liabilities, 45,000 105,000 Equity, 12/31 December 31

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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The following is known about Lucas' Gym & Fitness, Inc. for the year 2020. What were Non-current Assets on December 31? Dividends Expenses $40,000 $20,000 declared Retained Total Assets, Earnings, 300,000 560,000 December 31 January 1 Current Assets, Contributed 160,000 -0- December 31 Capital Current Net Increase in Liabilities, 45,000 105,000 Equity, 12/31 December 31
Transcribed Image Text:The following is known about Lucas' Gym & Fitness, Inc. for the year 2020. What were Non-current Assets on December 31? Dividends Expenses $40,000 $20,000 declared Retained Total Assets, Earnings, 300,000 560,000 December 31 January 1 Current Assets, Contributed 160,000 -0- December 31 Capital Current Net Increase in Liabilities, 45,000 105,000 Equity, 12/31 December 31
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