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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 --------- ||

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 --------- ||

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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Question

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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