Homework 1 Ex 3 - P1-39B (20-30 min) Req. 1 Assets Cash...

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Unformatted text preview: P1-39B (20-30 min) Req. 1 Assets Cash 23,000 23,000 (24,000) -1,000 (30,000) -31,000 10,000 -21,000 (14,000) -35,000 + + + + + + + + + + + + -35,000 + Supplies + Franchise + + + + + + + + + + + 500 + 500 + Req. 2 Total assets Total liabilities Total owner’s equity Net income for February + + + + 30,000 + 30,000 + + + + 30,000 + + 30,000 + = Liabilities Land 85,000 85,000 85,000 85,000 85,000 + Office furniture = = = = = = = = = 15,000 = 15,000 = = 15,000 = Accounts payable 61,000 61,000 61,000 1,000 62,000 62,000 + Owners' Equity + + + + + + + + + + + + + Arthur Shore, Capital 23,000 23,000 23,000 10,000 33,000 33,000 33,500 ...
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