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Bert and John Jacobs Are the Owners of the Life →\to

Question 259

Essay

Bert and John Jacobs are the owners of the Life is good →\to T-shirt company.If they also own a personal collection of vintage bobble heads valued at $25,000,how would the bobble heads be reflected on the company books? State the accounting concept or principle which supports your answer.

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The personal assets of Bert and John are...

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