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Just before Henderson Laboratories opened for business, Eugene Henderson, the owner, had the following assets and liabilities. Cash $40,100 Laboratory equipment 75,200 Laboratory supplies 6,400
Just before Henderson Laboratories opened for business, Eugene Henderson, the owner, had the following assets and liabilities. Cash $40,100 Laboratory equipment 75,200 Laboratory supplies 6,400 Loan payable 14,700 Accounts payable 9,775 Determine the totals that would appear in the firm's fundamental accounting equation (Assets Liabilities + Owner's Equity). Assets Liabilities Owner's equity
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