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Calculate the value of equity

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Question - Great Holidays Ltd., has the following account balances prior to creating its Balance Sheet for its fiscal year end on June 30, 2020:

Accounts Payable $60,000 Equity - ?

Cash $27,194 Accounts Receivable $90,000

Land $1,200,000 Unearned Revenue $150,000

Machinery $480,000 Inventory $160,000

Bank Loan $370,000

Required - Calculate the value of equity?

Reference no: EM132845680

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