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Unformatted text preview: BYp1-7 The purpose of the balance sheet is a summary of the financial balances of a sole proprietorship or company. Assets, liabilities and ownership equity and its pretty much defined as a snapshot of a company’s financial condition. Chapter 2 Accounts payable=CL Accounts Receivable=RE Accumulated depreciation=CL Buildings=PPE Cash and short term investments=LTI Dividends payable=RE Goodwill=IA Income tax=current liabilities Inventories=CA Investments=LTI Land=PPE Long term debt=LTL Materials and supplies=PPE Office equipment=PPE Paid expenses= current asset Buildings=PPE P2-4a A. 50,000 B. 100,000 C. 25,000 BYP 2-9 A. McDonnell Douglas B. Issues is that the disclosure if an information airplane company boeing....
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This note was uploaded on 07/25/2011 for the course ACCT 305 taught by Professor Taylor during the Spring '11 term at DeVry Chicago.
- Spring '11