Homework Answers
INCOME STATEMENT OF ABC CO.
REVENUE 120000
LESS: DEPRECIATION 3333
LESS: INTEREST ON BOND 3000
NET REVENUE 113667
BALANCE SHEET
LIABILITIES ASSETS
LONG TERM DEBT 49000 CASH
EQUITY 60000 BUILDING
INTERSET ON BONDS 3000
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that include both interest and principal on December 31 of each
year. Brown used the proceeds from the loan to purchase land that
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