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Media Marketing Services has been operating for several years. It showed the following trial balance information in alphabetical order) for the month just ended March

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Media Marketing Services has been operating for several years. It showed the following trial balance information in alphabetical order) for the month just ended March 31, 2020: 0.16 points Account Accounts payable Accounts receivable Building Cash Revenue San Smith, Capital Sam Smith, withdrawals Land Machinery Notes payable Office supplies office supplies expense Wages expense Totals Debit Credit $ 53,000 $ 3,700 87,000 20,500 142,100 129,000 21,500 91,000 57,000 121,00 3,700 7,700 153,000 $445,100 $445, 100 "The $129.000 balance includes $42.000 invested by the owner during March Answer is not complete. MEDIA MARKETING SERVICES $ 87,000 Statement of Changes in Equity For Month Ended March 31, 2020 Sam Smith, capital, March 1 Add: Investment by owner Total Less: Withdrawal by owner Add: Loss Sam Smith, capital, March 31 $ 87,000 0 X Answer is complete but not entirely correct. MEDIA MARKETING SERVICES Balance Sheet March 31, 2020 Assets Liabilities $ $ Building Land 87,000 91,000 57,000 Accounts payable Notes payable 53,000 121,000 OOOOOO 3,700 Total liabilities S Machinery Office supplies Accounts receivable Cash 174,000 3,700 Equity 20,500 Sam Smith, capital s 87,000 Total assets $ 262,900 Total liabilities and equity $ 261,000

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