Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $320,000 Accounts Payable $110,000 Marketable Securities $160,000 Accrued Expenses $30,000 Inventory $180,000 Mortgage Payable $200,000 Property
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $320,000 | Accounts Payable | $110,000 |
Marketable Securities | $160,000 | Accrued Expenses | $30,000 |
Inventory | $180,000 | Mortgage Payable | $200,000 |
Property | $500,000 | Shareholders' Equity | $650,000 |
Calculate the total assets and total liabilities & equity according to the provided balance sheet.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
25th edition
978-1285069609, 1285069609, 978-1133607601
