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Author Question: Use this financial statement to answer the following question: Cash 3,000 Liabilities 2,500 ... (Read 83 times)

azncindy619

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on: Jul 5, 2018
Use this financial statement to answer the following question:
 
  Cash  3,000 Liabilities  2,500
  Accounts receivable 2,000
  Inventory A Common stock B
  Supplies 1,000 Retained earnings 500
  Total 10,000 Total C
 
  This business must be organized as a ________.
  A) sole proprietorship
  B) partnership
  C) corporation
  D) Two of these are possible.

Question 2

The ___________________ _ is prepared after posting the closing entries to prove the equality of the debit and credit balances in the general ledger accounts.
 Fill in the blank(s) with correct word


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nickk12214

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Reply #1 on: Jul 5, 2018
Answer to Question 1

C

Answer to Question 2

post-closing trial balance


azncindy619

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Reply 2 on: Jul 5, 2018
Wow, this really help

amynguyen1221

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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