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The two numbers are still wrong -49800 under
Accounting equation = Assets = Liabilities + Stockholders equity
Balance Sheet : Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.
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- How would I solve this?arrow_forwardThe answer I was given was 3,836 which was incorrect. Could you please recalculate. Thank you.arrow_forwardAt December 31, 2021, Skysong, Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts During 2022, the company had the following transactions related to receivables. 1. 2. 3. 4. 5. $630,000 41,000 Sales on account Sales returns and allowances Collections of accounts receivable Write-offs of accounts receivable deemed uncollectible Recovery of bad debts previously written off as uncollectible $2,669.000 54,000 2,056,000 41,000 17,000arrow_forward
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