Balance-Sheet-Rewritten

Rewrite the balance sheet given below to reflect decisions labeled a, b, c.

Assets		Liabilities and Owner’s Equity
Cash	$ 15,000	Accounts Payable	$ 4,750
Equipment	$ 6,000	Owner’s Equity: Investment	$ 16,250
Total Assets	$ 21,000	Total Liabilities and Owner’s Equity	$ 21,000

a. From cash purchase equipment for $1,000
b. Pay $3,000 from cash for accounts payable
c. Take $750 cash for a salary.

Enter the new figures (net changes) where appropriate.

Assets		Liabilities and Owner’s Equity
Cash	$ a0	Accounts Payable	$ a1
Equipment	$ a2	Owner’s Equity: Investment	$ a3
Total Assets	$ 17,250	Total Liabilities and Owner’s Equity	$ 17,250