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Use the Below information to create a balance sheet in accordance with GAAP standards; ...

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Accounting

Use the Below information to create a balance sheet in accordance with GAAP standards;
COMPANY: A.B.C. Adibs Burgers and Chicken
Opening Account Balances
- The business currently holds a cash balance of 280,000
- Company holds 20,000's worth of inventory
- All appliances owned by business; estimated total value of 140,000
- China and glassware valued at 45,000
- equipment, furniture and fixtures estimated value of 60,000
-30,000 set aside for special startup costs
- Approved for Bank loan of 500,000
- prepaid 3 months rent at 11,000 per month to make life easier in the beginning(this is expense)

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