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Goldstar Communications was organized on December 1 of the current year and had the following account balances at December 31, listed in tabular form: Assets

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Goldstar Communications was organized on December 1 of the current year and had the following account balances at December 31, listed in tabular form: Assets Liabilities + Equity Cash Accounts Land Office Share Building Notes Equipment = Payable + Payable+ Capital Dec.31 Balance $80.000 $37.000 $95.000 $125.000 $51.250 = $28.250 $200.000 (1) $35.000 $35.000 Add/Subtract New Balance $80.000 After (1) $72.000 $95.000 $125.000 $51.250 = $28.250 $235.000 (2) Add/Subtract New Balance After (2) (3) Add/Subtract New Balance After (3) (4) Add/Subtract New Balance After (4) (5) Add/Subtract New Balance After (5) (6) Add/Subtract New Balance After (6) (7) Add/Subtract New Balance After (7) Early in January, the following transactions were carried out by Goldstar Communications: (1) Sold capital stock to owners for $35,000. (2) Purchased land and a small office building for a total price of $90,000, of which $35,000 was the value of the land and $55,000 was the value of the building. Paid $22,500 in cash and signed a note payable for the remaining $67,500. (3) Bought several computer systems on credit for $9,500 (30-day open account). (4) Obtained a loan from Capital Bank in the amount of $20,000. Signed a note payable. (5) Paid the $28,250 account payable due as of December 31. (6) Borrowed $35.000 form a close friend company. They promised to pay within 30 days. (7) Accounts payable were paid in full. a) The table is filled for the first transaction. Fill the table for the remained transactions. You can use parenthesis for the subtractions b) What is the total liabilities after the transactions

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