If The solution is never to report a attain, then we you take the cash and N/P from the textbooks, exactly what is the other facet from the entry - I presume retained earnings.
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Roland and bbrown - I stand corrected, on the other hand- won't the gain be precisely the same and is not going to the new CPA require the per asset/for every Take note payable details? Sorry with the confusion and glad you and Jon are providing feedback on this thread. Remark
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In concept, I might just determine all liabilities in excess of all property and There's the get. Nonetheless, are accounts receivable and accounts payable taken care of in a different way? "The toughest detail on earth to be familiar with may be the profits tax" - Albert Einstein
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