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On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $12,300; Accounts Receivable, $6,750; Supplies, $750;
On May 31 of the current year, the assets and liabilities of Riser, Inc. are as follows: Cash $12,300; Accounts Receivable, $6,750; Supplies, $750; Equipment, $11,300; Accounts Payable, $8,650. What is the amount of equity as of May 31 of the current year?
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Introduction to Financial Accounting
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
11th edition
978-0133251111, 013325111X, 0133251039, 978-0133251036
