Circus World is the name of a traveling circus. The ledger accounts of the business at June 30, 2015, are listed here in alphabetical order:

                               

Instructions
a. Prepare a balance sheet by using these items and computing the amount of Cash at June 30, 2015. Include a proper balance sheet heading.
b. Assume that late in the evening of June 30, after your balance sheet had been prepared, a fire destroyed one of the tents, which had cost $10,000. The tent was not insured. Explain what changes would be required in your June 30 balance sheet to reflect the loss of this asset.