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As of June 30, 2011, Dallas Company Has Assets of $120,000

Question 206

Multiple Choice

As of June 30, 2011, Dallas Company has assets of $120,000 and equity of $10,000.What are the liabilities for Dallas Company as of June 30, 2011?

A) $130,000
B) $100,000
C) $110,000
D) $120,000

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