Balance Sheet

Assets Liabilities and Owner’s Equity

Cash 33,000 Liabilities

Accounts Receivable 12,000 Accounts payable 30,000
Inventory 30,000 Notes payable 20,000
Equipment 25,000 Total liabilities 50,000
H. Jacobs, capital 50,000
Total Assets: 100,000 Total liabilities and
owner’s equity 100,000