Question
Assets Amount (USD) Liabilities and Equity Amount (USD) Cash $420,000 Accounts Payable $150,000 Marketable Securities $200,000 Accrued Expenses $35,000 Inventory $200,000 Mortgage Payable $250,000 Property
Assets | Amount (USD) | Liabilities and Equity | Amount (USD) |
Cash | $420,000 | Accounts Payable | $150,000 |
Marketable Securities | $200,000 | Accrued Expenses | $35,000 |
Inventory | $200,000 | Mortgage Payable | $250,000 |
Property | $600,000 | Shareholders' Equity | $800,000 |
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
