Bill Allen owns Bills Lawncare Service. The business has cash of ($3,000) and equipment that costs ($12,000).
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Bill Allen owns Bill’s Lawncare Service. The business has cash of \($3,000\) and equipment that costs \($12,000\). Debts of the business include accounts payable of \($6,000\) and a \($5,000\) note payable. Determine the amount of stockholders’ equity Bill has in the business. Write the accounting equation for Bill’s Lawncare Service.
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