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I. Clark Plumbing had the following transactions during the month of June, the first month of operations for the business: * The corporation issued 12,000

I. Clark Plumbing had the following transactions during the month of June, the first month of operations for the business: * The corporation issued 12,000 shares of capital stock to Bill Clark in exchange for his investment of $72,000 cash* Purchased $36,000 of equipment; made an $8,000 down payment and signed a note payable for the balance. * Made payment of $4,000 on the amount owed for equipment. Please answer the following: Make sure you show all your calculations you may either use equations, T Accounts, or Journal Entries to arrive at your results, but show every step. a) Compute the balance in the Cash account at the end of June. .b.b) What are the total assets of Clark Plumbing at the end of June?. c. compute balance in note payble account at the end of june .. d) what is total amount of owner's equity at the end of june ... E) explain what is owners equity , and what can increase and decrease owner's equity ?

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