Tx Cash Accounts Receivable Supplies Accounts Payable Owner's Capital - Owner's Drawings Revenues Expenses Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 30,000 30,000 2 1,800 1,800 3 10,000 10,000 4,500 4,500 5 1,250 1,250 16,800 16,800 1,730 1,730 8 4,000 4,000 1,120 1,120 10 7,500 7,500 --------- ||

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 14GI
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Provide a Balance Sheet based on the worksheet provided.

Tx
Cash
Accounts Receivable
Supplies
Accounts Payable
Owner's Capital - Owner's Drawings
Revenues
Expenses
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
Dr.
Cr.
1
30,000
30,000
1,800
1,800
10,000
10,000
4
4,500
4,500
5
1,250
1,250
6
16,800
16,800
7
1,730
1,730
4,000
4,000
1,120
1,120
10
7,500
7,500
Transcribed Image Text:Tx Cash Accounts Receivable Supplies Accounts Payable Owner's Capital - Owner's Drawings Revenues Expenses Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. Dr. Cr. 1 30,000 30,000 1,800 1,800 10,000 10,000 4 4,500 4,500 5 1,250 1,250 6 16,800 16,800 7 1,730 1,730 4,000 4,000 1,120 1,120 10 7,500 7,500
Expert Solution
Step 1

Introduction:

Balance sheet:

All Assets and liabilities are recorded in Balance sheet.

It tells the financial position of the company.

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