Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities. Determine the totals that would appear in the firm's fundamental accounting equation (Assets =Liabilities + Owner's Equity). Cash - $49,500 Laboratory equipment - 77,500 Laboratory supplies - 10,800 Loan Payable - 15,200 Accounts payable - 11,375

Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities. Determine the totals that would appear in the firm's fundamental accounting equation (Assets =Liabilities + Owner's Equity). Cash - $49,500 Laboratory equipment - 77,500 Laboratory supplies - 10,800 Loan Payable - 15,200 Accounts payable - 11,375

Name: Just before Johnson Laboratories opened for business, Howard Johnson,
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Description: Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities. Determine the totals that would appear in the firm's fundamental accounting equation (Assets =Liabilities + Owner's Equity). Ca

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts

Section: Chapter Questions

Problem 1E

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