Kayla Tumbaga's Crystal Shop Balance Sheet As of August 31, 2021 TOTAL ASSETS Current Assets Bank Accounts Cash 28,850.00 Total Bank Accounts $28,850.00 Accounts Receivable Accounts Receivable 22,000.00 Total Accounts Receivable $22,000.00 Other Current Assets Finished Goods Inventory 4,350.00 Office Supplies 120.00 Prepaid Insurance 500.00 Raw Materials 1,280.00 Work in Process Inventory -1,110.00 Total Other Current Assets $5,140.00 Total Current Assets $55,990.00 Fixed Assets Accumulated Depreciation - Truck 500.00 Truck 20,000.00 Total Fixed Assets $19,500.00 TOTAL ASSETS $75,490.00 LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable 11,360.00 Total Accounts Payable $1 1,360.00 Other Current Liabilities Salaries Payable 1,000.00 Unearned Revenue 3,200.00 Wages Payable 875.00 Total Other Current Liabilities $5,075.00 Total Current Liabilities $16,435.00 Total Liabilities $16,435.00 Equity Owner's Capital 58,350.00 Owner's Withdrawals -2,000.00 Retained Earnings Net Income 2,705.00 Total Equity $59,055.00 TOTAL LIABILITIES AND EQUITY $75,490.00 Accrual Basis Sunday, June 19, 2022 05:33 PM GMT-05:00 1/1