L$03$ PROBLEM $2\mathrm{.}4$B

An Alternate Problem on Recording the Effects of Transactions

The items making up the balance sheet of Smith Trucking at December $31$ are listed below in tabular form similar to the illustration of the accounting equation in Chapter $2$ of the text.

$\backslash$table$[[,$Assets,$=,$Liabilities,$+,\backslash$table$[[$Owners$\text{'}],[$Equity$]]],[,$Cash,$+,\backslash$table$[[$Accounts$],[$Receivable$]],+,$Trucks,$+,\backslash$table$[[$Office$],[$Equipment$]],\backslash$table$[[$Notes$],[$Payable$]],+,\backslash$table$[[$Accounts$],[$Payable$]],+,$Capital Stock$],[$Balances$,$$$4,700,,$$$8,300,,$$$72,000,,$$$3,000,,$$$10,000,,$$$8,000,,$$$70,000$