Solved: The liabilities on october 31 were 315000 and exceeded, Accounting Basics

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The liabilities on october 31 were 315000 and exceeded

Question - During October, the owner of Cincinnati Enterprises invested $15,000 in the business and withdrew $4,000. The net loss during October was $5,000. The liabilities on October 31 were $315,000 and exceeded assets by $85,000. What was the balance of owner's equity on October 1?

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Accounting Basics: The liabilities on october 31 were 315000 and exceeded

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Accounting Basics: The liabilities on october 31 were 315000 and exceeded

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