$ 24,500.00
Liabilities & Owner’s Equity
Current Liabilities :Accounts Payable $ –
Note Payable $ 5,000.00
Total Current Liabilities : $ 5,000.00
Owners’ Equity :
Common stock $ 15,000.00
Retained Earnings $ 4,500.00
Total Owners’ Equity : $ 19,500.00
Total Liabilities & Owners’ equity : $ 24,500.00
With the information provided can you help me come up with a balance sheet to show the difference from the beginning which I think is what I did compared to the end of the year so I need two sets of calculations.
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