make income statement make owners equity make balance sheet

The owner of Delton Property Rentals, Teal Delton, has requested an emergency meeting with you, a representative from the bank. "Our accountant has been on leave for the past several months and her replacement has resigned suddenly. I'm told we can't pay our employees this month and your bank won't lend us any money. I don't understand. We have lots of assets that can be used to pay expenses, as you can see from our balance sheet." CHAPTER 4 Completing the Accounting Cycle and Classifying Accounts You explain to Mr. Delton that you will need to obtain some additional information. He faxes you the following Required Using the elements of critical thinking described on the inside front cover, outline how you will respond to Teal Delton