Help with exercise 10-5 and 10-6

Exercise 105 Objectives To prepare a statement of owner's equity Directions From the folowing data prepare a starement of owner's equity for French Tiading Company owned by Rhonda French, for the year ended December 31, 20xx Amount Hem Capital, January 1 Net income for the year Withdrawals for the year $110,610 47.360 37,500 Exercise 10-6 Objective: To lassify balance sheet items Directions: Classify each of the items in this exercise as one of the following (a) current asset, (b) plant asset. (c) current liability, or (d) long-term liability 1. Notes Payable (duc in six months) 2. Store Supplies counting for Cash and the Merchandising Business