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The Total Assets and Total Liabilities of Paul's Pools, a Proprietorship

Question 50

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The total assets and total liabilities of Paul's Pools, a proprietorship, at the beginning and at the end of the current fiscal year are as follows:
Jan. 1Dec. 31 Total assets $280,000$475,000 Total liabilities 205,000130,000\begin{array}{ll}&Jan.~ 1&Dec.~ 31\\\hline\text { Total assets } & \$ 280,000 &\$475,000\\\text { Total liabilities } & 205,000 &130,000\end{array}
The total assets and total liabilities of Paul's Pools, a proprietorship, at the beginning and at the end of the current fiscal year are as follows: \begin{array}{ll} &Jan.~ 1&Dec.~ 31\\\hline \text { Total assets } & \$ 280,000 &\$475,000\\ \text { Total liabilities } & 205,000 &130,000 \end{array}

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