ANSWERS TO QUESTIONS

(b) Jay Leno Inc. Balance Sheet December 31, 2007 Assets Liabilities and Stockholders’ Equity Cash $66,200 Accounts payable $40,000 Accounts receivable 42,000 Bonds payable. Common stock 71,000. 126,000 (3) (4) Plant assets (net) 69,000 (1) Retained earnings 48,200 … ................
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