Question
Prepare a balance sheet The balance on Loving Heart, Inc. accounts on December 1, 2011, of the current year was as follows: Cash $15,000 Supplies
Prepare a balance sheet
The balance on Loving Heart, Inc. accounts on December 1, 2011, of the current year was as follows:
Cash $15,000 Supplies $3,000 Equipment $1,000 Accounts payable $5,000 Accounts receivable $20, 000
The transactions during the month of December appear below: Bought additional equipment with cash for $6,000 Received donation from individuals for $30,000 Received donation from Corrina Corporation for $50,000 Paid consulting fees $10,000 On December 31, 2011, Loving Heart has a total balance fund of $96,000. Prepare a balance sheet for the period ending December 31, 2011.
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