Question
Rogers investments had the following transactions during March 2022 (1) Capital Stock was issued in exchange for $65,000 cash (2) The business purchased equipment for
Rogers investments had the following transactions during March 2022
(1) Capital Stock was issued in exchange for $65,000 cash
(2) The business purchased equipment for $360,000, paying $160,000 cash and issuing a note payable for $200,000
(3) The business paid $70,000 of its accounts payable
(4) The business collected $54,000 of its accounts receivable
Assume that as of the end of February 2022, Rogers has totally assists of $500,000f and total liabilities of $200,000. Compute the following as of March 31, 2022.
A) Total assets $
B) Total Liabilities $
C) Owners Equity $
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