Question
Following the establishment of General Mills Ventures, Alice contributes $105,000 in cash and $45,000 worth of equipment, and Bob contributes $85,000 in cash and $35,000
Following the establishment of General Mills Ventures, Alice contributes $105,000 in cash and $45,000 worth of equipment, and Bob contributes $85,000 in cash and $35,000 worth of inventory. Prepare a comprehensive balance sheet for General Mills Ventures, reflecting the financial standing of the partnership post-formation.
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
