.com tow/connect html?returnlMs https%3A adegg %.. Final Exam Chp 1-11 6 Exercis

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.com tow/connect html?returnlMs https%3A adegg %.. Final Exam Chp 1-11 6 Exercise 2.4 Determining balance sheet amounts. LO 2-1, 2-2,2-3 18 The following financial data are for the dental practice of Dr. Donna Wells when she began operations in July 1. Owes $18,500 to the Allen Equipment Company 2. Has cash balance of $13,000. 3. Has dental supplies of $3,400 4. Owes $3.930 to Contemporary Furniture Supply 5. Has dental equipment of $26,050 6. Has office furniture of $7500 Determine the amounts that would appear in Dr. Wells' balance sheet 7 Alh G

Explanation / Answer

Assets = liabilities + owners Equity Cash 13,000 Accounts payable 22430 + Dr.Donnas capital 27,520 Supplies 3,400 Equipment 26,050 office furniture 7,500 total 49,950 = 22430 + 27,520

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