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The balance sheet account as of July 31, 1995 for altona company are as follows:
Capital: (fix lib) 35,630 Office Equipment (ass) 16730 Delivery Truck 15900 Accounts Receivables(ass) 14180 Notes payable(lib 1200 Cash(ass 7820 Accounts Payable 5750 Salaries Payable 2170 Delivery Supplies on hand 1050 Office Supplies on hand 870
Required:
Prepare a balance sheet as of july 31,1995 (Total Assets = 56,550)
I purchased equipment for 3,000 but only paid 1,000 of it and put rest of it on an account. how would I put that into a asset=liabilities+ owns equity equation?
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