Practice_problem_2_Notes_supplement

Practice_problem_2_Notes_supplement - cash, $5,000. Paid...

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Practice problem 2: Introduction to chapter 2 Transaction Assets Liabilities Stockholders’ Equity Beginning financial position $75,000 $25,000 $50,000 Borrowed $20,000 cash using a note payable, face amount $20,000. Collected accounts receivable for
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Unformatted text preview: cash, $5,000. Paid accounts payable, $1,000 cash. Purchased office supplies on credit, $1,000. Sold stock to new investors for $5,000 of cash. Paid a $10,000 note payable. Ending financial position. (B) How much did cash change during the period?...
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This note was uploaded on 04/07/2008 for the course ACCT 2610 taught by Professor Martin during the Spring '08 term at Washington University in St. Louis.

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