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Question - Compute the amount for retained earnings and prepare a balance sheet
Land $90,000
Acct payable $50,000
Acct receivable $50,000
Cash $40,000
Office equipment $10,000
Building 230,000
Capital stock 75,000
Notes payable 210,000
When analyzing accounting issues in memorandum format, the following structure is recommended: Explain the issue and current accounting treatment
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$15.00 per sq. ft. for ground-floor space and $10 per sq. ft. for second-floor space, what annual rent expense should be charged to each department?
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