Question
Instructions Prepare a personal balance sheet using the format you have learned for a classified balance sheet for a company. For the capital account, use
Instructions
Prepare a personal balance sheet using the format you have learned for a classified balance sheet for a company. For the capital account, use Owner's Capital
Below is the infromation that needs to be used to create the balance sheet.
Amount owed on student loan balance (long-term) | 10,000$ |
Balance in checking account | 1,000 |
Certificate of deposit (6-month) | 3,000 |
Annual earnings from part-time job | 5,000 |
Automobile | 3,000 |
Balance on automobile loan (current portion) | 500 |
Balance on automobile loan (long-term portion) | 2,000 |
Home computer | 1,500 |
Amount owed to you by younger brother | 500 |
Balance in money market account | 2,000 |
Annual tuition | 6,400 |
Video and stereo equipment | 3,000 |
Balance owed on credit card (current portion) | 20 |
Balance owed on credit card (long-term portion) | 100 |
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