The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July.
 

1. Owes $21,000 to the Allen Equipment Company.
2. Has cash balance of $15,500.
3. Has dental supplies of $5,650.
4. Owes $6,180 to Contemporary Furniture Supply.
5. Has dental equipment of $28,550.
6. Has office furniture of $10,000.

I don't know how to solve the liabilities

Determine the amounts that would appear in Dr. Wells’ balance sheet.

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A ezto.mheducation.com Connect Post Question John Amos started the bus napter 2 6 Saved Help Save & Ch Exercise 2.4 Determining balance sheet amounts. LO 2-1, 2-2, 2-3 The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July. 1. Owes $21,000 to the Allen Equipment Company. 2. Has cash balance of $15,500. 3. Has dental supplies of $5,650. 4. Owes $6,180 to Contemporary Furniture Supply. 5. Has dental equipment of $28,550. 6. Has office furniture of $10,000. Determine the amounts that would appear in Dr. Wells' balance sheet. Assets Liabilities Owner's Equity Cash 24 15,500 =Accounts payable + Donna Wells, Capital 2$ 32,520 Dental supplies 5,650= + Dental equipment 28,550 = Office furniture 10,000 = Total 24 59,700 = 2$ 24 32,520 ( Prev 5 of 11 曲 Next > +| +| + II A ezto.mheducation.com Connect Post Question John Amos started the bus napter 2 6 Saved Help Save & Ch Exercise 2.4 Determining balance sheet amounts. LO 2-1, 2-2, 2-3 The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July. 1. Owes $21,000 to the Allen Equipment Company. 2. Has cash balance of $15,500. 3. Has dental supplies of $5,650. 4. Owes $6,180 to Contemporary Furniture Supply. 5. Has dental equipment of $28,550. 6. Has office furniture of $10,000. Determine the amounts that would appear in Dr. Wells' balance sheet. Assets Liabilities Owner's Equity Cash 24 15,500 =Accounts payable + Donna Wells, Capital 2$ 32,520 Dental supplies 5,650= + Dental equipment 28,550 = Office furniture 10,000 = Total 24 59,700 = 2$ 24 32,520 ( Prev 5 of 11 曲 Next > +| +| + II

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Solution Assets Liabilities Owners Equity Cash 15500 Accounts Paya... View the full answer