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Take me to the text Sarah, the sole stockholder of Barnie Inc., runs a home-cleaning service in the suburb of a large city. Her balance
Take me to the text Sarah, the sole stockholder of Barnie Inc., runs a home-cleaning service in the suburb of a large city. Her balance sheet as at August 31, 2009 is as follows Barnie Inc Balance Sheet As at August 31, 2009 Assets Cash Accounts Receivable Equipment Accumulated Depreciation Total Assets $4,900 $19,700 $9,700 $-1,800 $32,500 Liabilities Accounts Payable Bank Loan Total Liabilities Stockholder's Equity Total Liabilities & Stockholder's Equity $32,500 $3,500 $14,900 $18,400 $14,100 In the upcoming year, Sarah expects the following events to occur o Total revenues of $21,000 and total expenses of $13,650 100% of accounts receivable from the prior year will be collected in the following year credit sales will represent 57% of revenues for tne year 100% of accounts payable owing from 2009 will be paid off in 2010 o By the end of August, 2010, Barnie will owe its suppliers $3,800 o No principal payments will be made on the bank loan during 2009 o Purchase of new equipment for $2,500. The entire purchase will be financed through a bank loan o Expect to have a cash balance of $20,900 at the end of fiscal 2010 o Depreciate assets by $620 during 2010 not enter dollar signs or commas in the input boxes the negative sign for negative valu
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