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Assume that Orchestra Ltd is a startup company with no entries in its books prior to the following transactions: Raise shareholders' equity in cash 200,000
Assume that Orchestra Ltd is a startup company with no entries in its books prior to the following transactions:
Raise shareholders' equity in cash 200,000
Obtain a long-term bank loan 100,000
Purchase a building for cash 75,000
Purchase inventories on credit from a supplier, not payable until the next financial year 5,000
Determine the company's total assets after the above transactions.
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