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The following items are components of a traditional balance sheet. Plant & equipment $42,500 Common stock $15,000 Cash $6,000 Inventory $23,900 Bad debt reserve $6,000 Additional paid-in capital $6,000 Accounts Receivable Accumulated depreciation $26,500 How much are the total assets of the firm? $22,000

The following items are components of a traditional balance sheet. Plant & equipment $42,500 Common stock $15,000 Cash $6,000 Inventory $23,900 Bad debt reserve $6,000 Additional paid-in capital $6,000 Accounts Receivable Accumulated depreciation $26,500 How much are the total assets of the firm? $22,000

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 items are components of a traditional balance sheet. Plant & equipment $42,500 Common stock $15,000 Cash $6,000 Inventory $23,900 Bad debt reserve $6,000 Additional paid-in capital $6,000 Accounts Receivable Accumulated depreciation $26,500 How much are the total assets of the firm? $22,000
Transcribed Image Text:The following items are components of a traditional balance sheet. Plant & equipment $42,500 Common stock $15,000 Cash $6,000 Inventory $23,900 Bad debt reserve $6,000 Additional paid-in capital $6,000 Accounts Receivable Accumulated depreciation $26,500 How much are the total assets of the firm? $22,000
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