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ASSETS LIABILITIES AND NET ASSETS Liabilities Net Assets Prepaid Plant & Wages Payable Accounts Acounts Mortgage Owners Retained Cash Insurancce Payable Payable Earnigs $10,000.00 Receviable Inventory Equipment Equity eginning Balance $52,000.00 $30,000.00 $10,000.00 $0.00 $100,000.00 $12,000.00 $5,000.00 $120,000.00 $45,000.00 ransaction1 -$1,200.00 $1,200.00

ASSETS LIABILITIES AND NET ASSETS Liabilities Net Assets Prepaid Plant & Wages Payable Accounts Acounts Mortgage Owners Retained Cash Insurancce Payable Payable Earnigs $10,000.00 Receviable Inventory Equipment Equity eginning Balance $52,000.00 $30,000.00 $10,000.00 $0.00 $100,000.00 $12,000.00 $5,000.00 $120,000.00 $45,000.00 ransaction1 -$1,200.00 $1,200.00

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Create a balance sheet from the table. 

Undo Clipboard Font Alignment Number Styles Cells G19 v: XV fx A B D E F G H K 2 ASSETS LIABILITIES AND NET ASSETS 3 Liabilities Net Assets 4 5 Accounts Prepaid Plant & Acounts Wages Mortgage Owners Retained Cash Receviable Inventory Insurancce Equipment Payable Payable Payable Equity Earnigs 8 Beginning Balance $52,000.00 $30,000.00 $10,000.00 $0.00 $100,000.00 $12,000.00 $5,000.00 $120,000.00| $45,000.00 $10,000.00 9 Transaction1 -$1,200.00 $1,200.00 10 Transaction2 -$5,000.00 $5,000.00 11 Transaction3 $20,000.00 $20,000.00 12 Transaction4 13 Transaction5 $25,000.00 -$25,000.00 14 Transaction6 -$5,000.00 $5,000.00 15 Ending Balance $65,800.00 $5,000.00 $30,000.00 $1,200.00 $100,000.00 $37,000.00 $10,000.00 $120,000.00 $45,000.00 $10,000.00 16 17 18 19 Transaction Transactions Worksheet BALANCE SHEET Ready O Tyne here to search -6°C Mostly cl
Transcribed Image Text:Undo Clipboard Font Alignment Number Styles Cells G19 v: XV fx A B D E F G H K 2 ASSETS LIABILITIES AND NET ASSETS 3 Liabilities Net Assets 4 5 Accounts Prepaid Plant & Acounts Wages Mortgage Owners Retained Cash Receviable Inventory Insurancce Equipment Payable Payable Payable Equity Earnigs 8 Beginning Balance $52,000.00 $30,000.00 $10,000.00 $0.00 $100,000.00 $12,000.00 $5,000.00 $120,000.00| $45,000.00 $10,000.00 9 Transaction1 -$1,200.00 $1,200.00 10 Transaction2 -$5,000.00 $5,000.00 11 Transaction3 $20,000.00 $20,000.00 12 Transaction4 13 Transaction5 $25,000.00 -$25,000.00 14 Transaction6 -$5,000.00 $5,000.00 15 Ending Balance $65,800.00 $5,000.00 $30,000.00 $1,200.00 $100,000.00 $37,000.00 $10,000.00 $120,000.00 $45,000.00 $10,000.00 16 17 18 19 Transaction Transactions Worksheet BALANCE SHEET Ready O Tyne here to search -6°C Mostly cl
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