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Determine the totals that appear in accounting equation

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Question - Just before Johnson Laboratories opened for business, Howard Johnson, the owner, had the following assets and liabilities.

Cash $40,300

Laboratory Equipment 75,400

Laboratory Supplies 6,600

Loan Payable 14,900

Accounts Payable 9,825

Required - Determine the totals that would appear in the firm's fundamental accounting equation.

Reference no: EM132645351

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