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ACCT 212 Week 4 | Midterm (Summer 2018)

Questions: 1.  (TCO 1) The Accounting Equation is used to develop the organization's financial reports. (1) Describe what assets value would be if Liabilities are $12,000 and Owners' Equity is $50,000 by showing the Accounting Equation (10 points), and (2) provide an example of two asset accounts that could contain the value. (10 points)2.   (TCO 1) The financial statements present a company to the public in financial terms. (1) Which financial statement identifies wher..

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