Question

Following are the balance sheet accounts of a small business:
Cash..................................................... $ 5,000
Accounts Payable................................ ?
Equipment........................................... 10,400
Supplies............................................... ?
Land.................................................... 16,400
Owner’s Equity................................... 18,000
Notes Payable..................................... 10,800
Required:
(a) Fill in the missing amounts, assuming that the business has total assets of $36,000.
(b) Fill in the missing amounts, assuming that the business has total liabilities and owner’s equity of $39,800.
(c) Prepare a trial balance assuming the information in part (a).


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  • CreatedMarch 27, 2015
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