Introduction:
Balance Sheet: The balance sheet is the position of assets and liabilities of the company at the end of the financial year. It includes all the assets, owner’s share named as equity shareholder and all debts named as liabilities of the company. Its equation is “Assets = Liabilities + Equity Shareholders”.
To prepare: The balance sheet as on August 31, 2016 and to calculate the current ratio.
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Horngren's Accounting, The Financial Chapters, Student Value Edition (11th Edition)
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