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Unformatted text preview: No homework due. 3 January 25 1-37, 1-40, 1-60, 2-27, 2-33 Although we have not yet started Ch.2 in the lecture, you should have read this by now. The second assigned question from Ch.2 deals with the format and presentation of financial statements a topic we discussed in the Ch.1 slides. Do your best with 2-27, remembering the most important thing is to balance each transaction, maintaining the equality: Assets = Liabilities + Shareholders equity. For 2-33, do not worry if your statement of financial position in part c), does not balance (assets liabilities + shareholders equity). It should be in balance - but the goal of the question is to demonstrate an understanding of the content and construction of the financial statements. If you are not balanced, you will find your error when you review the posted solution (available Thurs Jan 26 th )....
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- Spring '12