Apollo Corporation reported the following accounts and balances in its financial statements: Cash .................$10,000 Merchandise Inventory .........

Question:

Apollo Corporation reported the following accounts and balances in its financial statements:

Cash .................$10,000

Merchandise Inventory ......... 30,000

Equipment .............. 45,000

Notes Payable .............. 20,000

Contributed Capital ........... 35,000

Retained Earnings ........... 30,000

Required Arrange the accounts and balances into the accounting equation as shown below:

Assets = Liabilities + Equity

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...