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Murray Sporting Goods began business on January 1, 2007, with capital stock of $15,000. At December 31, 2007, assets amounted to $25,000 and liabilities were
- Murray Sporting Goods began business on January 1, 2007, with capital stock of $15,000. At December 31, 2007, assets amounted to $25,000 and liabilities were $6,000. Revenue from services during the year amounted to $30,000 and dividends were $8,000. The expenses of Murray Sporting Goods for 2007 amounted to:
- A. $10,000
- B. $18,000
- C. $26,000
- D. $19,000
- E. Some other amount.
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Financial Accounting
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
2nd Edition
0078110823, 9780078110825
