BASIC BALANCE SHEET ASSETS Current Assets ABCDE Net NonCurre

BASIC BALANCE SHEET ASSETS Current Assets A+B+C+D=E Net Non-Current Assets F+G+H= Total Assets Current Liabilities Net Non-current Liabilities P+Q Total Liabilities EQUITY Owner\'s Equity Total Liabilities & Equity Daisy\'s Bed & Breakfast Resort Pa Accounts Receivable 2,000.00 1.000.00 2,500.00 Land Debt Current Portion of debt Non Current Assets at cost 19,737.00 $ 396,380.0 87,539.00 71,870.00 2,000.00 $ 1,250,000.00 $ 82,098.00 Prepaid expenses and

Solution

BASIC BALANCE SHEET ASSETS Cash A 87539 Accounts Receivable B 2000 Inventory C 2500 Prepaid Expenses D 2000 Current Assets A+B+C+D = E 94039 Land F 1250000 Non - Curent assets at cost G 396380 Accumulated Depreciation H -71870 Net Non Current Assets F+G+H = I 1574510 Total Assets E + I = J 1668549 LIABILITIES Accounts Payable K 2700 Accrued Expenses L 1000 Current Portion of long term debt M 19737 Income Tax Payable N 82098 Current Liabilities K+L+M+N = O 105535 Land Debt P 276371 Non-Current Liabilities Q 10500 Non-Current Liabilities P+Q 286871 Total Liabilities O+P +Q= R 392406 EQUITY Owners\' Equity J - R = S 1276143 Total Liabilities and Equity R+S = T 1668549