S2-2. (Learning Objective 1, 2: Analyzing the effects of transactions) Young Software began with cash of $12,500.

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S2-2. (Learning Objective 1, 2: Analyzing the effects of transactions) Young Software began with cash of $12,500. Young then bought supplies for $1,500 on account. Separately, Young paid $3,000 for a computer. Answer these questions.

a. How much in total assets does Young have?

b. How much in liabilities does Young owe?

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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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S2-2. (Learning Objective 1, 2: Analyzing the effects of transactions) Young Software began with cash of $12,500.

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Financial Accounting International Financial Reporting Standards Global Edition

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