Question
Trail balance has following accounts; cash 50000,A/R 20000, prepaid rent 5000, equipment(net)25000, land 10000, A/P 15000, 2 years N/P 30000, retained earning 25000, share capital
Trail balance has following accounts; cash 50000,A/R 20000, prepaid rent 5000, equipment(net)25000, land 10000, A/P 15000, 2 years N/P 30000, retained earning 25000, share capital 40000, balances are?
a.
liabilities 85000 and equity 25000.
b.
liabilities 70000 and equity 40000.
c.
liabilities 15000 and equity 95000.
d.
liabilties 45000 and equity 65000
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Standard For Auditing Computer Applications
Authors: Martin A. Krist
2nd Edition
0849399831, 978-0849399831
