Question: Create a balance sheet using the table provided Transaction 1 Receive Cash for service $5000 2 Accounts receivable $1500 3 Office equipment purchase $6500 4

Create a balance sheet using the table provided

Transaction 1 Receive Cash for service $5000

2 Accounts receivable $1500

3 Office equipment purchase $6500

4 Supplies on Accounts Payable $2000

5 Owner Capitol (input) $7000

6 Owner withdrawal $ 100

7 Paid for Services provided $3000

8 Office Salary paid $ 500

9 Utilities Paid $ 350

10 Office rent paid $ 500

Transaction

Assets

=

Liabilities

+

Equity

No.

Cash

+

Accounts Receivable

+

Equipment

=

Accounts Payable

+

Owners Capital

1.

+

+

=

+

2

+

+

=

+

3

+

+

=

+

4

+

+

=

+

5

+

+

=

+

6

+

+

=

+

7

+

+

=

+

8

+

+

=

+

9

+

+

=

+

Total

+

+

=

+

Balance Sheet

Assets

Cash

Accounts Receivable

Equipment

Total Assets

Liabilities and Owners Equity

Accounts Payable

Owners Capital

Total Liability and Owners Equity

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!