Analysis of Transactions Use the format of Exhibit 1-2 to analyze the following transactions for April of
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Analysis of Transactions Use the format of Exhibit 1-2 to analyze the following transactions for April of Corner Cleaners. Then prepare a balance sheet as of April 30, 20X1. Corner Cleaners was founded on April 1.
Exhibit 1-2
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Assets Liabilities and Owners' Equity Merchandise Cash Inventory Store Equipment Note Payable Lopez, Capital Bal. 485,000 15,000 100,000 400,000 (4) -120,000 +120,000 Bal. 365,000 120,000 15,000 100,000 400,000 500,000 500,000
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Related Book For
Introduction To Financial Accounting
ISBN: 0131479725
9th Edition
Authors: Charles T Horngren, John A Elliott
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