Question: 13. Create a simple balance sheet by sorting out the following information. Use the accounting equation to calculate owner's equity. The business is called the
13. Create a simple balance sheet by sorting out the following information. Use the accounting equation to calculate owner's equity. The business is called the DVD Palace. The owner's name is Margaret Foster. Each correct line on your Balance Sheet is worth y mark, to a maximum of 10 marks altogether. There should be 23 lines of information, including the name of the business at the top of the Balance Sheet. (Note: There are four extra lines in the answer grid if you want to insert spaces between sections in the Balanc Sheet.) (10 marks) i) bank loan $25 000 ii) accounts receivable 100 iii) 45 000 accounts payable cash iv) 12 000 v) equipment 7 800 vi) 400 supplies inventory vii) DVD inventory 87 000
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