Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities. Determine the totals that would appear in the firm's fundamental accounting equation (Assets =Liabilities + Owner's Equity). Cash - $49,500 Laboratory equipment - 77,500 Laboratory supplies - 10,800 Loan Payable - 15,200 Accounts payable - 11,375
Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities. Determine the totals that would appear in the firm's fundamental accounting equation (Assets =Liabilities + Owner's Equity). Cash - $49,500 Laboratory equipment - 77,500 Laboratory supplies - 10,800 Loan Payable - 15,200 Accounts payable - 11,375
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter1: Introduction To Accounting And Business
Section: Chapter Questions
Problem 3BE: Transactions Interstate Delivery Service is owned and operated by Katie Wyer. The following selected...
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Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities. Determine the totals that would appear in the firm's fundamental
Cash - $49,500
Laboratory equipment - 77,500
Laboratory supplies - 10,800
Loan Payable - 15,200
Accounts payable - 11,375
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