Northwest State University Had the Following Account Balances as of June

question 85

Essay

Northwest State University had the following account balances as of June 30,2014.Debits are not distinguished from credits,so assume all accounts have a "normal" balance (i.e.cash is a debit and accounts payable a credit)
Required:
Prepare,in good form,a Statement of Net Assets for Northwest State University as of June 30,2014.

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Definitions:

Amino Acids

Organic compounds that combine to form proteins and are used as the building blocks of life.

R Groups

The variable groups of atoms in amino acids that define the chemical characteristics and properties of those amino acids.

Phosphodiester Linkage

The covalent bond between the phosphate group of one nucleotide and the hydroxyl group of another, forming the backbone of DNA and RNA molecules.

Triacylglycerol

The main storage lipid of organisms, consisting of a glycerol combined chemically with three fatty acids; also called triglyceride. Compare with monoacylglycerol and diacylglycerol.