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The adjusted trial balance for Rowdy Profits Corporation reports that its equipment had cost $250,000. For the current year, the company has recorded $30,000 of
The adjusted trial balance for Rowdy Profits Corporation reports that its equipment had cost $250,000. For the current year, the company has recorded $30,000 of depreciation, which brings the total depreciation to date to $150,000. Balance Sheet Assets Liabilities Stockholders Equity Income Statement Revenues Expenses Required: Using the headings shown above, indicate the location and amounts that would be used to report the three items on the company's balance sheet and income statement. (Any deduction should be entered with a minus sign.) Balance Sheet Assets nces Equipment $ 250,000 Liabilities Stockholders' Equity Balance Sheet Assets Equipment $ 250,000 Liabilities Stockholders' Equity Income Statement S Revenues 0 $ 0
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