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The accounting equation for Gudgeyes Enterprises is as follows: AssetsLiabilitiesEquity.$280,000=$120,000+$160,000 If Gudgeyes purchases office equipment on account for $12,000, the accounting equation will change to
The accounting equation for Gudgeyes Enterprises is as follows: AssetsLiabilitiesEquity.$280,000=$120,000+$160,000 If Gudgeyes purchases office equipment on account for $12,000, the accounting equation will change to Assets=Liabilities+Equity.$304,000=$144,000+$160,000$304,000=$152,000+$152,000$304,000=$120,000+$184,000$280,000=$120,000+$160,000 Step by Step Solution
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Financial Analysis And Modeling Using Excel And VBA
Authors: Chandan Sengupta
2nd Edition
047027560X, 978-0470275603
