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NYC-BBALL BALANCE SHEET END OF THE YEAR DECEMBER 2017 Assets Current Assets Cash $38000 Inventory...

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Accounting

NYC-BBALL BALANCE SHEET

END OF THE YEAR DECEMBER 2017

Assets

Current Assets

Cash $38000

Inventory $12000

Long-term assets

Buildings $400000

Equipment $15000

Liabilities and owner's equity

Current liabilities

Bank loans $90,000

Accounts payable $12,000

Sales tax payable $18,000

Long-term liabilities

Mortgage payable $150,000

Total liabilities

Owner's equity

BBall capital

If the balance sheet equation is assets equal liabilities + owner's equity

Can you derive from the above balance sheet the following for BBall:

. Total Assets:

. Total Liabilities :

. Owner's Equity:

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