9/8/2015

6.

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Award: 2 out of 2.00 points

Problem 2.3A Preparing a balance sheet. LO 2-5

BrownEquipmentRepairServiceisownedbyJamesBrown.

Cash
Supplies
AccountsReceivable

$ 34,300
6,380
13,200

Equipment
AccountsPayable

$ 78,000
24,000

UsetheabovefigurestoprepareabalancesheetdatedFebruary29,2016.

BROWNEQUIPMENTREPAIRSERVICE
BalanceSheet
February29,2016
Assets

Liabilities

Cash

34,300

Accountsreceivable

13,200

Equipment

78,000

Supplies

6,380
$

Totalassets

131,880

Accountspayable

24,000

JamesBrown,Capital

107,880

TotalliabilitiesandOwner'sequity

Owner'sEquity

131,880

Analyze:
Whatisthenetworth,orownersequity,atFebruary29,2016forBrownEquipmentRepairService?

$
107,880
Owner'sEquity

References
Worksheet

Problem2.3APreparing
abalancesheet.LO25

LearningObjective:0205Prepareastatementof
ownersequityandabalancesheet.

Problem 2.3A Preparing a balance sheet. LO 2-5

BrownEquipmentRepairServiceisownedbyJamesBrown.

Cash
Supplies
AccountsReceivable

$ 34,300
6,380
13,200

Equipment
AccountsPayable

$ 78,000
24,000

UsetheabovefigurestoprepareabalancesheetdatedFebruary29,2016.

http://ezto.mheducation.com/hm_accounting.tpx?todo=printviewSingle

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9/8/2015

AssignmentPrintView

BROWNEQUIPMENTREPAIRSERVICE
BalanceSheet
February29,2016
Assets

Liabilities

Cash

34,300

Supplies

6,380

Accountsreceivable

13,200

Equipment

78,000

Accountspayable

24,000

Owner'sEquity
JamesBrown,Capital

Totalassets

107,880

131,880

TotalliabilitiesandOwner'sequity

131,880

Analyze:
Whatisthenetworth,orownersequity,atFebruary29,2016forBrownEquipmentRepairService?

Owner'sEquity
$
107,880

Explanation:
Nofurtherexplanationdetailsareavailableforthisproblem.

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