Homework Answers
Answer:
| Assets | = | Liabilities | + | Stockholder's Equity | |
| a | $60,000+ | = | + | $60,000+ | |
| b | $40,000+ | = | $40,000+ | + | |
| c | $0 | = | + | ||
| d | $3,500+ | = | $3,500+ | + | |
| e | $0 | = | + | ||
| f | $5,000(-) | = | + | $5,000(-) | |
| g | $400(-) | = | $400(-) | + | |
| Total | $108,900 | = | $43,900 | + | $65,000 |
For c,
Supplies (Asset): $850+ & Cash (Asset): $850(-). So, Net affect is $0
For e,
Cash (Asset): $500+ & Accounts receivable (Asset): $500(-). So, Net affect is $0
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