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Asset and Liability Breakdown Guide

This financial statement shows assets equaling $33,400, consisting of cash, land, and accounts receivable, as well as liabilities of $5,500 and expenses of $8,700, leaving equity/shareholder capital of $30,000, balancing the accounting equation that assets must equal liabilities plus equity.

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Lana Koniashvili
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4 views2 pages

Asset and Liability Breakdown Guide

This financial statement shows assets equaling $33,400, consisting of cash, land, and accounts receivable, as well as liabilities of $5,500 and expenses of $8,700, leaving equity/shareholder capital of $30,000, balancing the accounting equation that assets must equal liabilities plus equity.

Uploaded by

Lana Koniashvili
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd

Assets = Liabilities +

1 cash 19,900
2 Land 11,000
3 supplies 500 200
4
5 Account Receivable (AR) 2,000
6 rent expense on computer
rent expense office
salary expense
utility expense
7
8
9
10
11
Equity
Shareholder capital RE
30,000

5,500
3,000
-600
-1100
-1200
-400

-2000

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