Question
From the following information taken from the records of Peach Company at December 31 of this year, calculate equity. Loan $1,122,000 Cash 133,000 Prepaid Expense
From the following information taken from the records of Peach Company at December 31 of this year, calculate equity.
| Loan | $1,122,000 |
| Cash | 133,000 |
| Prepaid Expense | 22,000 |
| Manufacturing Equipment | 3,500,000 |
| Equity | ? |
Notes Payable 100,000
Select one:
a. $2,533,000
b. $3,655,000
c. $2,433,000
d. $3,633,000
Clear my choice
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Auditors Letter Handbook
Authors: American Bar Association Business Law Section
2nd Edition
161438973X, 978-1614389736
