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Antonio Hanley Owns a Small Automobile Service Center

Question 19

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Antonio Hanley owns a small automobile service center.He recently approached the local bank for a loan to finance an expansion of his service center.Antonio prepared the balance sheet given below and submitted it with his loan application.The balance sheet does not conform to generally accepted accounting principles.Using the additional information provided by the owner,prepare a corrected balance sheet in accordance with generally accepted accounting principles. Antonio Hanley owns a small automobile service center.He recently approached the local bank for a loan to finance an expansion of his service center.Antonio prepared the balance sheet given below and submitted it with his loan application.The balance sheet does not conform to generally accepted accounting principles.Using the additional information provided by the owner,prepare a corrected balance sheet in accordance with generally accepted accounting principles. Antonio Hanley owns a small automobile service center.He recently approached the local bank for a loan to finance an expansion of his service center.Antonio prepared the balance sheet given below and submitted it with his loan application.The balance sheet does not conform to generally accepted accounting principles.Using the additional information provided by the owner,prepare a corrected balance sheet in accordance with generally accepted accounting principles. Antonio Hanley owns a small automobile service center.He recently approached the local bank for a loan to finance an expansion of his service center.Antonio prepared the balance sheet given below and submitted it with his loan application.The balance sheet does not conform to generally accepted accounting principles.Using the additional information provided by the owner,prepare a corrected balance sheet in accordance with generally accepted accounting principles.

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