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On June 1 2016 Secretly Canadian Company Prepared a Balance Assets (no cash) $100,000 Liabilities. 45,000 Owner’s Equity 55,000\begin{array}{lrr} \text {Assets (no cash) } &\$100,000\\ \text { Liabilities. } &45,000\\ \text { Owner's Equity } &55,000\end{array}

Question 187

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On June 1 2016 Secretly Canadian Company prepared a balance sheet that shows the following: Assets (no cash) $100,000 Liabilities. 45,000 Owner’s Equity 55,000\begin{array}{lrr} \text {Assets (no cash) } &\$100,000\\ \text { Liabilities. } &45,000\\ \text { Owner's Equity } &55,000\end{array}
Shortly thereafter all of the assets were sold for cash. How would the balance sheet appear immediately after the sale of the assets for cash for each of the following cases?  Cash Received for  Balances Immediately After Sale  the Assets  Assets  Liabilities = Owner’s Equity  Cash A $110,000$$$ Cash B 100,000 Cash C 90,000\begin{array}{lcccc}&\text { Cash Received for }&\text { Balances Immediately After Sale }\\&\text { the Assets }&\text { Assets }- &\text { Liabilities }=&\text { Owner's Equity }\\ \text { Cash A } & \$ 110,000 & \$\underline{\quad\quad}&\$\underline{\quad\quad}&\$ \underline{\quad\quad}\\\text { Cash B } & 100,000 &\underline{\quad\quad} &\underline{\quad\quad}&\underline{\quad\quad} \\\text { Cash C } &90,000\end{array}

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