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The balance sheet account as of July 31, 1995 for XYZ company are :
Capital: (fix lib) 35,630 Office Equipment (ass) 16730 Delivery Truck 15900 Accounts Receivables(ass) 14180 Notes payable(lib 1200 Cash(ass 7820 Accounts Payable 5750 Salaries Payable 2170 Delivery Supplies on hand 1050 Office Supplies on hand 870
Required:
Prepare a balance sheet as of july 31,1995 (Total Assets = 56,550)
contributed her $10000 in exchange for $1000 of the shares. this was deposited into a new corporate bank account she set up with TD canada trust
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