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Question 2 [ 2 0 Marks ] Use the following information to answer the questions: The business purchased a building for R 1 2 1
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Marks
Use the following information to answer the questions:
The business purchased a building for R
The total trade and salary payable accounts are R and R respectively.
The business's cash at the end of the year was R
The mortgage note payable for the property that the business owns is R
The trade receivable for the business were R
The store has merchandise inventory of R
Mr Brown originally invested R capital in the business
The business paid R for advertising in advance and classified the account as prepaid advertising
The business owns land that is worth R
Required
a Identify and classify the assets the business has as of the end of the month, if any, as either current or noncurrent assets.
marks
b Identify and classify the liabilities the business owes at the end of the month, if any, as current or noncurrent liabilities.
marks
HACPJulDecFASMV
c Identify the owner's equity from the transactions provided.
marks
Note make use of the following format
tableTransaction #Asset,Current RNoncurrent R
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