JHJ CAR RENTAL 2017 BALANCE SHEET ASSETS CASH LIABILITIES ACOOUNTS PAYABLE 30,000 NOTES PAYABLES 35,000 50,000 15,000 AR SUPPLIES 20,000 70,000 AUTO TOTAL LIABILITIES 50,000 EQUIPMENT 30,000 OWNER'S EQUITY COMMON STOCK 125,000 RETAINED EARNINGS TOTAL ASSETS 200,000 LIABILITIES+ 200,000 OWNER'S EQUITY 1. INVESTED $60,000 INTO THE BUSINESS 2. PAID $15,000 CASH FOR 1 YEAR INSURANCE POLICY ON MARCH 1 3. RECEIVED $40,000 CASH IN ADVANCE FROM JAMES HARDEN FOR FUTURE CAR RENTALS 4. PURCHASED SUPPLIES ON ACCOUNT FOR $8,000 5. RECEIVED $40,000 IN CASH FOR CAR RENTAL SERVICES 6. PAID $10,000 CASH FOR ADVERTISING EXPENSE 7. PAID $15,000 CASH FOR RENT EXPENSE 8. RENTED CARS TO CORPORATE CUSTOMERS ON ACCOUNT FOR $50,000 9. PAID $5,000 TOWARDS NOTE AND $2,000 TOWARDS INTEREST 10. PAID $3,000 ON ACCOUNTS PAYABLE 11. COLLECTED $60,000 FROM CORPORATE CUSTOMERS 12. PAID $2,500 CASH FOR DIVIDENDS 13. PAID $40,000 CASH FOR OFFICE SALARIES 14. ENDING SUPPLIES, S10 15. SERVICES RENDERED TO JAMES HARDEN TOTALED $30,000 16. RECORD EXPIRED INSURANCE ON DECEMBER 31