Pizzeria Dos Balance Sheet Assets Liabilities Owners Equity Accounts November Cash in bank Inventory Equipment Accounts Loan Profit and Receivable Payable Payable Capital Loss 1 2 3 4 UT 6 7 8 10 Total November 1 Owner contributes $42,000 to start the new business 2 Borrowed $58,000 from the bank, signing a promissory note to repay the $58,000 plus interest in 10 years 3 Signed a 2 year lease to rent a furnished building for $2,000 per month. Paid the first month's rent and took immediate possession of the building. 4 Purchased kitchen equipment, including pizza ovens, on credit, for a total of $40,000. Paid $10,000 in cash as a down payment and agreed to pay the balance within 30 days 5 Purchased ingredients for $2,000 cash 6 Purchased additional ingredients on credit for $3,500 7 Sold meals to customers for cash, $1,500 8 Catered an event for a client for $800 and sent a bill, which is expected the client will pay within 30 days. 9 Determined that $600 of ingredients has been used since the commencement of business 10 Paid $600 for various expenses (telephone, electricity, etc.). MacBook DII DD A 20 288