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Problem 1: If a company receives $10,600 from its sole stockholder to establish a corporation, the effect on the accounting equation would be:
Multiple Choice
Option 1: Assets increase $10,600 and equity increases $10,600.Option 2: Liabilities increase $10,600 and equity decreases $10,600.Option 3: Assets increase $10,600 and liabilities increase $10,600.Option 4: Assets increase $10,600 and liabilities decrease $10,600.Option 5: Assets decrease $10,600 and equity decreases $10,600.
What percentage of the payment represents interest and what percentage represents principal for each of the 3 years? Do not round intermediate calculations.
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Describes the largest driver of the change in noncash operating capital of $53,726 listed in the operating section of the statement of cash flows?
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