Question
Pam Jones owns a business named Sunny Renovation. Below is the account information of Sunny Renovation at 30 June 2019. Cash in Bank $ 45,600
Pam Jones owns a business named Sunny Renovation. Below is the account information of Sunny Renovation at 30 June 2019.
| Cash in Bank | $ 45,600 |
| Accounts receivable | $235,200 |
| Supplies | 52,800 |
| Prepaid Insurance | 16,000 |
| Accounts payable | 67,400 |
| Unearned revenue | 18,000 |
| Service income | 372,000 |
| Salary expense | 222,000 |
| Pam Jones, Capital | ? |
| Equipment | 130,000 |
Required: Using the accounting equation, prepare the balance sheet for Sunny Renovation at 30 June 2019 (please use the narrative/vertical format).
You may wish to copy the table below for use in your answer.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Financial Accounting in an Economic Context
Authors: Jamie Pratt
8th Edition
9781118139424, 9781118139431, 470635290, 1118139429, 1118139437, 978-0470635292
