9. Rochester Corporation holds cash of $11,000 and owes $27,000 in accounts payable. Rochester has accounts receivable

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9. Rochester Corporation holds cash of $11,000 and owes $27,000 in accounts payable.

Rochester has accounts receivable of $40,000, inventory of $34,000, and land that cost

$55,000. How much are Rochester’s total assets and liabilities?

Total assets Liabilities

a. $129,000 $27,000

b. $27,000 $140,000

c. $140,000 $27,000

d. $140,000 $93,000

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Financial Accounting International Financial Reporting Standards Global Edition

ISBN: 9781292211145

11th Edition

Authors: Charles T. Horngren, C. William Thomas, Wendy M. Tietz, Themin Suwardy, Walter T. Harrison

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Question Posted: Jul 25, 2024 09:02 AM

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9. Rochester Corporation holds cash of $11,000 and owes $27,000 in accounts payable. Rochester has accounts receivable

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Financial Accounting International Financial Reporting Standards Global Edition

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