Equipment(net)$80,000,original equipment is $140,000. Total asset is $132,000. Current liability $24,000, note payable $30,000, total liability $54000. Common stock $50,000. Do I charge deferr revenue for $28000 for the balance of the equipment to get $132000 for total liability and shareholder’s equity to balance?

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Asked Sep 9, 2019
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Equipment(net)$80,000,original equipment is $140,000. Total asset is $132,000. Current liability $24,000, note payable $30,000, total liability $54000. Common stock $50,000. Do I charge deferr revenue for $28000 for the balance of the equipment to get $132000 for total liability and shareholder’s equity to balance?

 

 

 

 

 

 

 

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Computation Particulars Amount Equipment Less: Net Equipment Accumulated Depreciation 140000 -80000 60000 Computation Particulars Amount Total Assets Less: Net Equipment Current Assets 132000 -80000 52000 Computation Particulars Amount Total Liabilities 132000 Less: Total Liabilities Common Stock Retained Earnings -54000 -50000 28000

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