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Carney Corporation issued 90,000 shares of $1.00 par value common stock at a price of $5.00 per share. Total revenue this year was $170,000 with
Carney Corporation issued 90,000 shares of $1.00 par value common stock at a price of | ||||||
$5.00 per share. Total revenue this year was $170,000 with $10,000 received in cash, and the rest on account. | ||||||
The expenses for the year were $120,000 with $75,000 paid in cash, and the rest on account. | ||||||
ASSETS | LIABILITIES | |||||
CASH | ACCOUNTS PAYABLE | |||||
ACCOUNTS RECEIVABLE | ||||||
STOCKHOLDERS' EQUITY | ||||||
COMMON STOCK | ||||||
PAID IN CAPITAL IN EXCESS OF PAR | ||||||
TOTAL PAID IN CAPITAL | ||||||
RETAINED EARNINGS | ||||||
TOTAL STOCKHOLDERS' EQUITY | ||||||
TOTAL ASSETS | TOTAL LIABILITIES & STOCKHOLDERS' EQUITY | |||||
A=L+OE? | YES |
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