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As of December 31 of the current year, Armani Company's records show the following. Cash $ 10,000 Accounts receivable 9,000 Supplies 7,000 Equipment 4,000
As of December 31 of the current year, Armani Company's records show the following. Cash $ 10,000 Accounts receivable 9,000 Supplies 7,000 Equipment 4,000 Accounts payable 11,000 Common stock 14,000 Retained earnings, December 31, prior year 3,000 Retained earnings, December 31, current year 5,000 Dividends 13,000 Consulting revenue 33,000 Rental revenue 22,000 Salaries expense 20,000 Rent expense 12,000 Selling and administrative expenses 8,000 Required: Prepare the current year-end balance sheet for Armani Company.
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Assets Cash 10000 Accounts Receivable 9000 Supplies 7000 Equipment 4000 Total Assets 30000 Liabiliti...Get Instant Access to Expert-Tailored Solutions
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