ACCOUNT NAME NORMAL BALANCE Cash in Bank ............................................$46,540 Accounts Receivable.............................................20,340 Inventory ...............................................................23,785 Prepaid Expenses...................................................6,300 Equipment-ALL....................................................38,000 Accum Depreciation –Equipment...........................3,600 Accounts Payable..................................................16,385 HST on Sales..........................................................4,180 HSTon Purchases..................................................2,670 Long Term LoanPayable..................................29,500 Capital, Your ACTUAL name..................................????? Capital Additional Investments..................................0 Drawings, Your ACTUAL name.............................12,000 SalesRevenue....................................................109,800 Sales Returns and Allowances................................1,123 Sales Discounts..........................................................553 Cost of Goods Sold...............................................37,200 Purchase Discounts....................................................620 Inventory Adjustments.....................................................0 Utilities Expense......................................................2,730 Depreciation Expense................................................450 Insurance Expense..................................................3,300 Interest Expense.........................................................369 Could you please tell me what the amount of the "Capital" will be and a full explanation of how you got i
ACCOUNT NAME NORMAL BALANCE
Cash in Bank ............................................$46,540
Accounts Receivable.............................................20,340
Inventory ...............................................................23,785
Prepaid Expenses...................................................6,300
Equipment-ALL....................................................38,000
Accum Depreciation –Equipment...........................3,600
Accounts Payable..................................................16,385
HST on Sales..........................................................4,180
HSTon Purchases..................................................2,670
Long Term LoanPayable..................................29,500
Capital, Your ACTUAL name..................................?????
Capital Additional Investments..................................0
Drawings, Your ACTUAL name.............................12,000
SalesRevenue....................................................109,800
Sales Returns and Allowances................................1,123
Sales Discounts..........................................................553
Cost of Goods Sold...............................................37,200
Purchase Discounts....................................................620
Inventory Adjustments.....................................................0
Utilities Expense......................................................2,730
Depreciation Expense................................................450
Insurance Expense..................................................3,300
Interest Expense.........................................................369
Could you please tell me what the amount of the "Capital" will be and a full explanation of how you got it.
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