The two numbers are still wrong -49800 under retained earnings and -77200 under account payable even after taking out the negaiuve in front of it. Please provide a more accurate answer that is actuallyn the right answer

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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The two numbers are still wrong -49800 under retained earnings and -77200 under account payable even after taking out the negaiuve in front of it. Please provide a more accurate answer that is actuallyn the right answer please???????????

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Step 1: Definition

Accounting equation = Assets = Liabilities + Stockholders equity

Balance Sheet : Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.


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