Question
Linh Do Accounting Services ' end of year balance sheet consisted of the following amounts. What amount should the company report on its balance sheet
Linh Do Accounting Services ' end of year balance sheet consisted of the following amounts.
What amount should the company report on its balance sheet for total assets?
| Cash | $ 77,756 | Accounts receivable | $15,551 |
| Property, plant and equipment | 231,951 | Long-term debt | 400 000 |
| Ordinary share | 1 000 000 | Accounts payable | 200 000 |
| Retained earnings | 407,916 | Inventory | 75,302 |
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Financial and Managerial Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
11th Edition
9780538480901, 9781111525774, 538480890, 538480904, 1111525773, 978-0538480895
