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On June 1, 2014, Shaw Company Prepared a Balance Sheet

Question 193

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On June 1, 2014, Shaw Company prepared a balance sheet that shows the following:  Assets (no cash) ...................................$125,000 Liabilities .............................................75,000 Stockholders’ Equity ..............................50,000\begin{array}{lc}\text { Assets (no cash) } ...................................& \$ 125,000 \\\text { Liabilities } .............................................& 75,000 \\\text { Stockholders' Equity } ..............................& 50,000 \\ \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  =  Stockholders’   Equity  Cash A $135,000$____$____$____ Cash B 120,000____________ Cash C 105.000____________\begin{array}{lc} & \text { {Cash Received for } }& \text { {\underline{\text{ Balances Immediately After Sale }} } } \\&\text {\underline{\text{ the Assets }} } & \text { \underline{\text{ Assets - }} } & \text { \underline{\text{ Liabilities }} } & = & \text { \underline{\text{ Stockholders' }} } \\\text {\underline{\text{ Equity }} } & & & & & \\\text {Cash A } & \$135,000 & \$ \_\_\_\_ & \$ \_\_\_\_ & & \$ \_\_\_\_ \\\\\text { Cash B } & 120,000 & \_\_\_\_ & \_\_\_\_ & & \_\_\_\_ \\\\\text { Cash C } & 105.000 & \_\_\_\_ & \_\_\_\_ & & \_\_\_\_ \\ \end{array}

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