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The following amounts were reported on the December 31, 2019, balance sheet: Cash $ 8,000 Land 20,000 Accounts payable 15,000 Bonds payable 120,000 Merchandise inventory
The following amounts were reported on the December 31, 2019, balance sheet:
Cash | $ | 8,000 |
Land | 20,000 | |
Accounts payable | 15,000 | |
Bonds payable | 120,000 | |
Merchandise inventory | 30,000 | |
Retained earnings | 80,000 | |
Buildings and equipment, net of accumulated depreciation | 180,000 | |
Accounts receivable | 22,000 | |
Common stock | 40,000 | |
Wages payable | 5,000 | |
Working capital at December 31, 2019 was:
Multiple Choice
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$60,000.
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$40,000.
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$10,000.
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$120,000.
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