Listed here are the account names and balances for Wilderness Rentals. Using these account names and balances:
Question:
Listed here are the account names and balances for Wilderness Rentals.
Using these account names and balances:
1. List and total the assets of the business.
2. Determine the amount owed by the business.
3. Give the amount of the owner’s equity in the business.
Transcribed Image Text:
Accounts Payable Accounts Receivable Camping Equipment $ 7,000 2,000 12,000 Cash in Bank Office Equipment Ronald Hicks, Capital $ 5,000 3,000 15,000
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