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Stanford University Operations And Supply Chain Management Assignment Help - econ

Question - 1. (25 points) Lloyd Christmas, Ltd.'s accounting records reflect the following account balances atJanuary 1, 2005 (beginning of the year): Account Debit Credit Equipment $160,000 Inventory $ 95,000 Accounts Receivable $ 20,000 Building $100,000 Cash $ 150,000 Supplies $ 12,000 Prepaid Rent $ 15,000 Land $100,000 Unearned Revenues $50,000 Accounts Payable $60,000 Accumulated Depreciation - Equipment $30,000 Accumulated Depreciation - Bldg $50,000 Note Payable $140,000 Owners' Capital $322,000 This company uses the perpetual inventory system (therefore, the company records a decrease to inventory and COGS expense for every sale). There were no owner investments or owner withdrawals for the year. Make the foll ...Read More

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