Copy of KC - 3 ASSETS = LIABILITIES OWNER'S EQUITY Current...

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GENERAL LEDGER Account: DATE ITEM DEBIT CREDIT BALANCE DEBIT CREDIT 2011 Month A CCOUNT  N O : POST.  REF.
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GENERAL LEDGER Account: DATE ITEM DEBIT CREDIT BALANCE DEBIT CREDIT 2011 Month A CCOUNT  N O : POST.  REF.
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(PRACTICE ONLY) FILL IN THE PINK BOXES…NOTHING ELSE 1 ASSETS = LIABILITIES + OWNER'S EQUITY Cash Chateau Gas Company Office Equipment Aloe Medical Supply Company Because there was no entry at the X-ray Equipment Owner's Equity, you will need to find it. Laboratory Equipment Assets - Liabilities = Owner's Equity C.A. $0  = C.L. $0  + C.O.E. $0  Don't forget to carry this over to the Current Assets for number 2 set 2 ASSETS = LIABILITIES + OWNER'S EQUITY Current Assets $0  Current Liabilities $0  Current O.E. $0  Increase Assets Increased Liabilities Increased Owner's Equity $0  $0  $0  Again, the assets are carried down to set 3 and become current assets.
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Unformatted text preview: 3 ASSETS = LIABILITIES + OWNER'S EQUITY Current Assets $0 Current Liabilities $0 Current O.E. $0 Decrease in Assets Increase in Liabilities Descrease in O.E. $0 TOTALS $0 = $0 $0 (PRACTICE ONLY) FILL IN THE PINK BOXES…NOTHING ELSE ASSETS = LIABILITIES + OWNER'S EQUITY ASSETS = LIABILITIES + CAPITAL-DRAWING + REVENUES-EXPENSES a Cash Capital b supplies Supplies Payable Cash c Prepaid Insurance Cash d Cash Earned Acc. Rec. e Cash Payable f Prepaid Rent g Cash Withdrawl ASSETS Liabilities Capital Drawing Revenue Expenses $0 $0 $0 -$0 + $0 -$0 ASSETS = Liabilities + Owner's Equity $0 $0 $0 Balance: $0 = $0...
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