80.2K
Verified Solution
Link Copied!
Create a balance sheet using the table format provided *This is all we are given we must complete with what we have
Transaction 1 Receive Cash for service $2500
2 Accounts receivable $500
3 Equipment Purchase $700
4 Equip. on Accounts Payable $ 300
5 Owner capitol input $1500
6 Owner withdrawal $ 400
7 Payment for services $4000
8 Equipment Repair paid $ 50
9 Advertisement expense $ 150
10 Travel expense $ 250
11 Supplies expense $ 200
12 Rent expense $ 300
Transaction | Assets | = | Liabilities | + | Equity |
No. | Cash | + | Accounts Receivable | + | Equipment | = | Accounts Payable | + | Owners Capital |
1. | | + | | + | | = | | + | |
2 | | + | | + | | = | | + | |
3 | | + | | + | | = | | + | |
4 | | + | | + | | = | | + | |
5 | | + | | + | | = | | + | |
6 | | + | | + | | = | | + | |
7 | | + | | + | | = | | + | |
8 | | + | | + | | = | | + | |
9 | | + | | + | | = | | + | |
10 | | + | | + | | = | | + | |
11 | | + | | + | | = | | + | |
12 | | + | | + | | = | | + | |
Total | | + | | + | | = | | + | |
Balance Sheet |
Assets |
Cash | |
Accounts Receivable | |
Equipment | |
Total Assets | |
Liabilities and Owners Equity |
Accounts Payable | |
Owners Capital | |
Total Liability and Owners Equity | |
Answer & Explanation
Solved by verified expert