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Balance sheet reported total assets

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On November 1 of the current year, Rob Elliot invested $29, 750.00 of his cash to form a corporation GGE Enterprises Inc., In exchange for shares of common stock. No other common stock was issued during the successful first month of operations, the retained earnings as of November 30 were reported at $5,000.00. After all transactions have been entered into the accounting equation for the month of December 31 follow. On that date, the financial statements were prepared. The balance sheet reported total assets of $56,150.00 and total stockholders equity of $38,300.

Reference no: EM132434097

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