Six transactions of Prosperity Company, a corporation, are summarized below in equation form, with each of the
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Liabilities Equity Cash + Receivable + Furniture + Building + Land Payable Capital Stock $149,000 $149,000 $149,000 $30,000 $10,000 +800 $10,800 $40,000 $40,000 $40,000 Balances 9,000 800 Balances 8,200 (b) +500 Balances 8,700 (c) -3,000 Balances $ 5,700 (d) 2,000 Balances 3,700 (e) +10,000 Balances $13,700 $90,000 S90,000 S90,000 $30,000 $30,000 $30,000 $10,800 +5,000 $15,800 $29,500 $40,000 $40,000 $40,000 $30,000 +2,000 $32,000 -2,000 $30,000 $149,000 $29,500 $29,500 $29,500 S90,000 $90,000 S90,000 $90,000 $15,800 $149,000 +10,000 $159,000 3 $15,800 +3,000 $18,800 $30,000 +3,000 Balances $13,700 $159,000
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Description of transactions a Purchased furniture for cash at a cost of 800 b Re...View the full answer
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Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078025778
17th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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