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Accounting

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During its first year of operations, Maria Rose set up Roseland Inc. and invested $25,000 in the corporation. The company earned $68,000 of revenues and incurred $32,000 of expenses. At the end of the year, the company owed $24,000 to its creditors. A cash dividend of $5,000 was paid to Maria. At the end of the year, the company's assets totaled:

  • Accounting -

    5000

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