Question: Please explain using excel sheet 3. Balance sheet items for Avery Inc. are listed below. Complete the accounting equation. In the space indicated ( ),

Please explain using excel sheet

3. Balance sheet items for Avery Inc. are listed below. Complete the accounting equation. In the space indicated ( ), state whether each item is an asset (A), liability (L) or owner's equity (OE). Prepare a classified balance sheet for Avery Inc. on page 19, make up a date. Cash $11,000 Building 60,000 Land 35,000 Bank Loan 9,000 Mortgage 40,000 Equipment Capital 20,000 77,000 A =L +OE

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