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Business, 02.09.2021 19:20 tania911

Packard Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions are cash transactions.) 1) Acquired $1,150 cash from the issue of common stock. 2) Borrowed $620 from a bank. 3) Earned $800 of revenues cash. 4) Paid expenses of $290. 5) Paid a $90 dividend. During Year 2, Packard engaged in the following transactions. (Assume all transactions are cash transactions.) 1) Issued an additional $525 of common stock. 2) Repaid $360 of its debt to the bank. 3) Earned revenues of $950 cash. 4) Paid expenses of $440. 5) Paid dividends of $140. What is the amount of total assets that will be reported on Packard's balance sheet at the end of Year 2

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