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List the balances of Prairie Land Industries as of August 31, 2024, using a bullet-point format. Then, compute the total assets and total liabilities based
- List the balances of Prairie Land Industries as of August 31, 2024, using a bullet-point format. Then, compute the total assets and total liabilities based on the provided data.
- Cash: ₹18,000 (Debit)
- Accounts Receivable: ₹28,000 (Debit)
- Inventory: ₹62,000 (Debit)
- Equipment: ₹135,000 (Debit)
- Accounts Payable: ₹46,000 (Credit)
- Bank Loan: ₹100,000 (Credit)
- Equity: ₹110,000 (Credit)
- Retained Earnings: ₹9,000 (Debit)
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Accounting What the Numbers Mean
Authors: David Marshall, Wayne McManus, Daniel Viele
11th edition
1259535312, 978-1259535314
