Reza Lang is the bookkeeper for Taylor Company. Reza has been trying to get the balance sheet of Taylor Company to balance. Taylor’s balance sheet is shown below.

Instructions
Prepare a correct balancesheet.

Transcribed Image Text:

TAYLOR COMPANY Balance Sheet December 31, 2014 Assets Liabilities Cash Supplies Equipment Owner's drawings 10,000 Total liabilities and $15,000 Accounts payable $21,000 67,500 $79,000 8,000 Accounts receivable 9,500) 46,000 Owner's capital Total assets $79,000 owner's equity