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College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
Edition 2ISBN: 978-0073396958 Exercise 26
Determining balance sheet amounts.
The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July. Determine the amounts that would appear in Dr. Wells' balance sheet.
1. Owes $18,000 to the Jones Equipment Company.
2. Has cash balance of $12,500.
3. Has dental supplies of $3,150.
4. Owes $3,680 to Ace Furniture Supply.
5. Has dental equipment of $25,550.
6. Has office furniture of $7,000.
The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July. Determine the amounts that would appear in Dr. Wells' balance sheet.
1. Owes $18,000 to the Jones Equipment Company.
2. Has cash balance of $12,500.
3. Has dental supplies of $3,150.
4. Owes $3,680 to Ace Furniture Supply.
5. Has dental equipment of $25,550.
6. Has office furniture of $7,000.
Explanation
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Fundamental accounting equation:
• In a...
College Accounting 2nd Edition by David Haddock, John Price,Michael Farina
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