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how do you do this ? Spero Co produced a draft statement of financial position at the year end which showed the owner's equity as
how do you do this ? Spero Co produced a draft statement of financial position at the year end which showed the owner's equity as 450,000. It was later discovered, however, that the following transactions, which all occurred on the last day of the financial year, had not been taken into account: 1. Property, which cost 329,000, had been revalued to 426,000 2. Inventories, which cost 27,000, had been sold on credit for 38,000 3. The owner withdrew 35,000 in cash. 4. A trade receivable paid the amount owing of 40,000 in full What will be the revised figure for owner's equity after the above transactions are taken into account? (Type an integer.)
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