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2. The balance sheet of Triangle Real Estate of Tweed, Ontario, at the close of business on September 30, 20-, is as follows: TRIANGLE REAL
2. The balance sheet of Triangle Real Estate of Tweed, Ontario, at the close of business on September 30, 20-, is as follows: TRIANGLE REAL ESTATE BALANCE SHEET SEPTEMBER 30, 20- Liabilities AJP - Acme Supply $ 1 562 Assets Cash A/R - P.Adams A/R - J. Singh A/R - N. Swartz Supplies Office Furniture Total Assets $ 216 375 150 200 4 175 21 967 $27 083 Owner's Equity J. Morse, Capital Total Liabilities and Equity 25 521 $27 083 A. Record the above balance sheet figures on the equation analysis sheet provided in your Workbook. B. Analyze the transactions of October 1, listed below, and record the necessary changes on the equation analysis sheet. After each trans- action, ensure that the equation is still in balance. C. After completing transaction 5, prepare a new balance sheet. TRANSACTIONS October 1 1. Triangle Real Estate receives $100 cash from N. Swartz in partial payment of the amount owed by him. 2. Acme Supply is paid $200 cash in partial payment of the debt owed to them. 3. Supplies costing $95 are purchased for cash from the Standish Company. 4. Triangle Real Estate sells a home for A.J. Buhler. For this service, Triangle Real Estate receives a commission of $4 700 cash. 5. A new desk (Office Furniture) is purchased from Ideal Furniture for $950 cash
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