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Home Comfort Furniture Company completed four transactions with the dollar effects indicated in the following schedule: Stockholders' Cash Assets Equipment Liabilities Notes Payable Equity
Home Comfort Furniture Company completed four transactions with the dollar effects indicated in the following schedule: Stockholders' Cash Assets Equipment Liabilities Notes Payable Equity Common Stock Beginning $ 0 $ 0 0 $ 0 (1) +21,000 +21,000 (2) +53,000 +53,000 (3) -7,000 +24,000 +17,000 (4) +8,500. +8,500 Ending $ $ $ $ Required: 2. Compute the ending balance in each account. Cash Equipment Notes Payable Common Stock Ending 3. Has most of the financing for Home Comfort's investments in assets come from liabilities or stockholders' equity? Liabilities: Stockholders' Equity
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