A =L +E

Pleas fill out assets, liabilities and equity columns based on statement for each number

5. The newspaper bills you $500 for the advertisement you ran. You plan on paying the bill next month. 6. Rent for the space you have leased is $1,000 a month, which you paid. 7. The first month you bill students $2,000 for lessons. 8. You pay your two part-time piano teachers $500 each at the end of the month. 9. One of your students paid the $200 invoice you sent earlier in the month