Homework Answers
| Assets | |
| Cash | $ 20,000.00 |
| Accounts Receivable | $ 70,000.00 |
| Building | $ 100,000.00 |
| Accumulated Depreciation | $ (55,000.00) |
| Total Assets | $ 135,000.00 |
| Liabilities & Stockholder's Equity | |
| Accounts Payable | $ 15,000.00 |
| Long term Loan | $ 60,000.00 |
| Total Liabilities | $ 75,000.00 |
| Shareholder's Equity | $ 60,000.00 |
| Total Liabilities & Stockholder's Equity | $ 135,000.00 |
Cash Should be $20000 for correct balance sheet.
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