Question
When Nada and Rand decided to incorporate their partnership, the trial balance was as follows: Debit Credit Cash $60,000 Accounts Receivable (net) 35,000 Inventory 65,000
When Nada and Rand decided to incorporate their partnership, the trial balance was as follows:
Debit
Credit
Cash
$60,000
Accounts Receivable (net)
35,000
Inventory
65,000
Equipment
130,000
Accounts Payable
$60,000
Nada, Capital
150,000
Rand, Capital
80,000
Total
$290,000
$290,000
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College Accounting, Chapters 1-15
Authors: James A. Heintz, Robert W. Parry
21st Edition
1285639723, 9781285639727
