Paul Sangha began Sangha Consulting on May 1, 2020 and reported the items below at May 31, 2020. Match each numbered item with the part of the balance sheet on which it should be presented. If the item does not appear on the balance sheet, choose (d) and identify on which financial statement(s) the item would appear.

a. Asset

b. Liability

c. Equity

d. Does not appear on the balance sheet

Transcribed Image Text:

8. Repair supplies 9. Notes payable 10. Paul Sangha's withdrawals in May 11. Truck $ ? $ 5 1. Loss 2. Rent expense 3. Rent payable 4. Accounts receivable 5. Paul Sangha's investments in May 6. Interest income 7. Paul Sangha, capital, May 1, 2020 22 25 14 15 12. Consulting revenue 13. Paul Sangha, capital, May 31, 2020 30 18 2 14. Cash 20