Here is the partial work sheet for Meyer Mountain Shop.

Required
1. Prepare a statement of owner€™s equity (no additional investment).
2. Prepare a balance sheet.
3. Determine the amount of the working capital.
4. Determine the current ratio (carry to two decimalplaces).

Transcribed Image Text:

Meyer Mountain Shop Work Sheet For Year Ended December 31, 20 6ACCOUNT NAME BALANCE SHEET DEBIT CREDIT 18,525.00 4,500.00 22,680.00 53,542.00 1,820.00 2,450.00 18,600.O 42,00000 Notes Receivable 9Accounts Receivable 11Prepaid Property Taxes 12 Prepaid Insurance 13 Land 14Buiding -Accumulated Depreciation, Building 6Computer Equipment 17Accumulated Depreciaton, Computer Equipment 18 Store Equpment 19Accumulated Deprediasion, Store Equipment 22,500.00 2,250.00 5,085.00 3,225.00 19,455.00 54,600.00 4 42400 7,480.00 5,740.00 20 Delivery Equipment 21 Accumulated Depreciaton, Delivery Equipment 22 Notes Payable 23 Acoounts Payatle 24 Mortgage Payable (current portion) 2Mortgage Payabla 26 M. E. Meyer, Capital 75,085.0 27 M. E. Meyer, Drawing 28 35,250.00 41Wages Payable 217,011.00 192,660.00 42 43Net Income 45 İ Sheet1 Sheet2 Sheet3