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Based on the accounting equation, what is wrong with the balance sheet? Mamma's Shop Balance Sheet As of December 31, 2018 In U.S.S Assets Current
Based on the accounting equation, what is wrong with the balance sheet? Mamma's Shop Balance Sheet As of December 31, 2018 In U.S.S Assets Current Assets Cash Accounts receivable Inventory Total current assets $ $ $ 22 3 36 s 61 Fixed assets Equipment Store Fixtures Accumulated depreciation Total fixed assets on on on 114 3 16) S 111 s 172 Total assets Liabilities & Shareholder's Equity Current liabilities Accounts payable $ 45 Bank Line of Credit $ 3 Total current liabilities $ 48 107 $ 102 Long-term liabilities Total long-term liabilities Total Liabilities $ 155 Shareholder's equity Retained earnings Common stock Total shareholder's equity $ $ 16 8 $ 24 $ 279 Total liabilities and shareholders' equity TTTT Paragraph Arlal ili Qi X 3 (12pt) TT fx Mashups Based on the accounting equation, what is wrong with the balance sheet? Mamma's Shop Balance Sheet As of December 31, 2018 In U.S.S Assets Current Assets Cash Accounts receivable Inventory Total current assets $ $ $ 22 3 36 s 61 Fixed assets Equipment Store Fixtures Accumulated depreciation Total fixed assets on on on 114 3 16) S 111 s 172 Total assets Liabilities & Shareholder's Equity Current liabilities Accounts payable $ 45 Bank Line of Credit $ 3 Total current liabilities $ 48 107 $ 102 Long-term liabilities Total long-term liabilities Total Liabilities $ 155 Shareholder's equity Retained earnings Common stock Total shareholder's equity $ $ 16 8 $ 24 $ 279 Total liabilities and shareholders' equity TTTT Paragraph Arlal ili Qi X 3 (12pt) TT fx Mashups
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