From the following, prepare a balance sheet for Rauscher Co. Cleaners at the end of April 201X:

Question:

From the following, prepare a balance sheet for Rauscher Co. Cleaners at the end of April 201X: Cash, $18,000; Equipment, $40,000; Accounts Payable, $25,000; B. Rauscher, Capital.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...