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Prepare a balance sheet in a narrative format

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Question - Assume at 30th June 2020, Assets, Liability, Equity, Income and Expense amounts for Giraffe Building Renovation are presented below:

Cash in Bank

70,000

Accounts receivable

251,000

Supplies

300,000

Land

350,000

Inventory

250,000

Share Capital

?

Sales revenue

1,200,000

Accounts payable

500,000

Prepaid insurance

35,000

Supplies expense

200,000

Bank loan

40,000

Marketing expense

30,000

Required - Prepare a Balance Sheet in a narrative (vertical) format as of 30th June 2020.

Reference no: EM133108086

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