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(Hame Activity) Name: Student ID: Given: 40,000 20, 000 230,000 1. Notes Receivables 3. Accounts payable 4. Marketable securities 40,000 5. Accruals 6. Cash 7. Building and Land 170,000 8. Accounts Receivables 20,000 9. Bank Loans 10. Investments 11. Machinery & Equipment 130,000 12. Notes Payable 40,000 100,000 50,000 50,000 13,000 > Prepare balance sheet. Find out the owners equity.
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Answer #1

Balance sheet

Assets Liabilities and owner's equity
Cash 100000
Inventory 20000
Notes receivables 40000 Accounts payable 230000
Accounts receivables 20000 Accruals 40000
marketable securities 40000 Notes payable 13000
Investments 50000
Total current assets 270000 Total current liabilities 283000
Building and land 170000 Bank loan 50000
Machinery & Equipment 130000
Total fixed assets 300000 Total liabilities 333000
Owner's equity $237000
Total Assets $570000 Total Liabilities and Owner's equity $570000

Note:- Total assets = Total liabilities + Owner's equity

570000 = 333000 + Owner's equity

owner's equity = $237000

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