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Cornelia's Closet Has the Following Account Balances for the Dates

Question 160

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Cornelia's Closet has the following account balances for the dates given: Cornelia's Closet has the following account balances for the dates given: Also, its net income, for October 1 through October 31 was $20,000 and there were no investments or withdrawals by the owner. Determine the equity at both October 1 and October 31. Also, its net income, for October 1 through October 31 was $20,000 and there were no investments or withdrawals by the owner. Determine the equity at both October 1 and October 31.

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October 1st Equity = $...

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