1. Accounting

13. Balance Sheet Example

14. Balance Sheet Solution 0 0 2 $383 Total Liabilities and Owenrs Equity 0 0 2 $383 Total Assets 0 0 0 325 S. Simpson, Capital 0 0 5 $367 Total Capital Assets Owner's Equity 0 0 0 300 Land 0 0 2 $58 Total Liabilities 0 0 0 50 Building 0 0 0 40 Mortgage 0 0 5 17 Audio Equipment and Speakers Long Term Liabilities Capital Assets 0 0 2 $ 18 Total Current Liabilities 0 0 7 $ 15 Total Current Assets 0 0 0 15 Bank Loan 0 0 7 Accounts Receivable 0 0 2 $ 3 Accounts Payable 0 0 0 $ 15 Cash Current Liabilities Current Assets Liabilities Assets As of April 15th, 2008 Balance Sheet Simon's Recording Studio

20. Example: Income Statement