CHAPTER 1: INTRODUCING FINANCIAL ACCOUNTING

You are considering purchasing Schmitz Consulting, but you aren’t sure what price to offer. Currently the company has $120,000 in the bank, $15,000 in accounts receivable, and $22,000 worth of computer and office equipment. In addition, the seller owes the bank $20,000 for a loan and $5,000 in accounts payable for some of the equipment. ................
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