Question: Jack Tasker opened his Auto Repair Shop in November 2014. The balance sheet at November 30, 2014, prepared by an inexperienced part-time bookkeeper, is shown

Jack Tasker opened his Auto Repair Shop in November 2014. The balance sheet at November 30, 2014, prepared by an inexperienced part-time bookkeeper, is shown below.

Jack Tasker opened his Auto Repair Shop in November 2014.

Required
Prepare a correct balance sheet.

Tasker Auto Repair Shop Balance Sheet November 30, 2014 Liabilities and Equity Parts and supplies...$14,175 Accounts receivable 47,250 Assets Cash 6,300 34,650 . 22,050 Jack Tasker, capital26,775 $89,775 ... Accounts payable.. . Equipment... Total income .. Total equities$89,775

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