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Suppose a company has the following balance sheet accounts

Problem - Suppose a company has the following balance sheet accounts; calculate the missing amounts assuming the company has total assets of $48,000.

Accounts	Balances
Land	$8,500
Building
Salaries payable	3,400
Common stock
Accounts payable	2,900
Cash	5,200
Retained earnings	11,800
Supplies	3,200
Equipment	4,700

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Accounting Basics: Suppose a company has the following balance sheet accounts

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