FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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I need this information created on a balance sheet. You make a personal investment in your company of $5,000 in
exchange for 1,000 shares of stock. You purchase a fixed asset, whatever makes sense for your company, (for example, a
new laptop for a service business or a bicycle for a bike messenger business) for $1,000. You borrow $10,000 from a
local bank for operating expenses.You sell your product or service on account for $250 to a customer.Your customer pays
$125 towards the amount that you billed above. You purchase office supplies on account for $300.
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Transcribed Image Text:I need this information created on a balance sheet. You make a personal investment in your company of $5,000 in exchange for 1,000 shares of stock. You purchase a fixed asset, whatever makes sense for your company, (for example, a new laptop for a service business or a bicycle for a bike messenger business) for $1,000. You borrow $10,000 from a local bank for operating expenses.You sell your product or service on account for $250 to a customer.Your customer pays $125 towards the amount that you billed above. You purchase office supplies on account for $300.
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