On June 30, 2004, Brothers Lawn Service had the following account balances: Cash ................$3,000 Notes payable .............

Question:

On June 30, 2004, Brothers’ Lawn Service had the following account balances:

Cash ................$3,000

Notes payable ............. 1,000

Contributed capital ........... 6,700

Retained earnings ........... 800

Supplies inventory ............ 500

Equipment ............... 5,000

Prepare a balance sheet for Brother’s Lawn Service.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...