The Total Assets and Total Liabilities of Paul's Pools, a Proprietorship

question 50

Essay

The total assets and total liabilities of Paul's Pools, a proprietorship, at the beginning and at the end of the current fiscal year are as follows:
$\begin{array}{ll}&Jan.~ 1&Dec.~ 31\\\hline\text { Total assets } & \$ 280,000 &\$475,000\\\text { Total liabilities } & 205,000 &130,000\end{array}$

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Definitions:

Chemical Carcinogen

A substance or exposure that can lead to cancer by altering cellular metabolism or damaging DNA directly in cells.

Pericarditis

Pericarditis is an inflammation of the pericardium, the protective membrane surrounding the heart, often causing chest pain and other symptoms.

Myocarditis

Inflammation of the heart muscle, which can affect the heart's electrical system and impair its ability to pump blood.

Congestive Heart Failure

A chronic condition where the heart doesn't pump blood as well as it should, leading to a buildup of fluid in the body.