Unformatted text preview: Preparing the Balance Sheet Biwheels Company
Balance Sheet January 3, 20x2 Assets Liabilities and Owners' Equity
Cash $485,000 Liabilities (note payable) $100,000
Store equipment 15,000 Lopez, capital 400,000
Total assets $500,000 Total liabilities and owners’ equity $500,000 ...
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- Fall '07
- Financial Accounting