Chapter 1

Accounts Notes Stockholder’s Cash + Equipment = payable + payable + equity $13,000 + $35,000 = $9,000 + $5,000 + $34,000 Based on the accounting equation, Beach has $34,000 of equity in the business. Assets of $48,000 ($13,000 + $35,000) − Liabilities of $14,000 ($9,000 + $5,000) = Stockholder’s equity … ................
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