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dollar amount for each classification.
(b)
Determine Nike's accounting equation by calculating the value
of total assets, total liabilities, and
total stockholders' equity.
(c )
To what extent does Nike rely on debt versus equity financing?
NOTE: Enter a number in cells requesting a value; enter either a
number or a formula in cells with a "?"
P1-3A
Prepare an income statement, retained earnings statement and balance
sheet; discuss results
On June 1, Hightower Service Co. was started with an initial investment
in the company of $22,100 cash.
Here are the assets, liabilities, and common stock of the company at
June 30, and the revenues and
expenses for the month of June, its first month of operations:
Cash
1,000
$4,600
Notes payable $12,000
Accounts receivable 4,000 Accounts payable
Service revenue 7,500 Supplies expense
500