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Acompany that uses the accrual method of accounting started the fiscal year with assets of $600,000 and liabilities of $400,000. during the fiscal year the company recorded credit sales of $250,000, of which $8,000 remained to be collected at year end, and incurred expenses of $90,000, of which $72,000 was paid in cash. a stock dividend valued at $10,000 was declared and issued to stockholders during the year. what is the year-end balance of total equity?
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Acompany that uses the accrual method of accounting started the fiscal year with assets of $600,000...
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