Teehan Western
New member
Okay im really struggling with how to do this. My question is how do i construct the balance sheet with this financial information given about the business? what are the Assets, liabilities and equity?
Also how do i make the sheet balance when i have accounts payable? it goes under liabilities but what about the other side, how do i make it even?
1. Cash on Hand : 20k
2. Buildings purchased: 420k
3. Income from food - 272k
4. Salaries and wages: 220k
5. Supplies used: 71k
6. Other equipment bought: 63k
7. Accounts payable: 87k
8. Accounts receivable: 8k
9. Income from camping: 185k
10. Supplies on Hand: 15k
11. other expenses: 45k
Also how do i make the sheet balance when i have accounts payable? it goes under liabilities but what about the other side, how do i make it even?
1. Cash on Hand : 20k
2. Buildings purchased: 420k
3. Income from food - 272k
4. Salaries and wages: 220k
5. Supplies used: 71k
6. Other equipment bought: 63k
7. Accounts payable: 87k
8. Accounts receivable: 8k
9. Income from camping: 185k
10. Supplies on Hand: 15k
11. other expenses: 45k