The following is a picture of a accounting equation worksheet for an ongoing business. Some of the amounts or explanations have been yellowed out and the red letters from A to Q are close to each yellow rectangle. For your original post, you should make a list A-Q and put the amounts or explanation that is needed for the corresponding yellow rectangle to make the accounting equation worksheet and financial statements work. This original post should be done before Thursday night. The follow up post due by Saturday will involve comparing your answers to those of one of your classmates - noting any differences and explaining what needs to be done differently.

Assets Liabilities Stockholders Equity Capital Stock Current Long term Current Long-term + Retained Earnings +Gains/- Losses +Revenues - Expenses - Dividends Retained Earnings from last $ 20,000 $ 5,800 Cost of goods sold Accounts Unearned Payable Revenue Loan payable $ 2,000 $ 900 $ 37,000 Inventory Building 17,000 $ 2,700 $ 46,000 Utilities Cash $ Wages Balance from last accounting period $ (5,000) $ 50,000 $ 45,000 A $ 4,200 $ 4,200 Purchased $4,200 of inventory on credit $ (950) Paid 950 to employees for work during accounting period $ 3,200 $ (1,400) $ 3,200 $ (1,400) D $ (260) Received bill for $260 for utilities $ (50) $ (50) $ 14,200 $ 96,000 $ 6,460 $ 900 $ 20,000 $ 5,800 $ 3,200 $ (1,400) $ (260) $ (950) $ - $ (50) $ 115,700 H $ 26,340 Liabilities $ 115,700 $ 17,000 Revenues COGS Gross Profit Utilities Other Net Income Beginning cash Operating Cash from sales Payment to employees $ (950) $ 2,250 Investing Cash paid for building 0 Statement of Equity Last Period Sale of stock Net Income Dividends End of period $ 3,200 $ 1,400 (Not listed as negative since we always know expenses are subtracted) 1 Assets $ 260 Cash $ 950 Inventory $ 5,500 $ 590 Building M Total $ 115,700 Capital Sto Retained Earnings Liabilities $ 20,000 Accounts Payable $ 6,460 Unearned Revenue $ 900 K Loan Payable $ 82,000 (50) Total $ 89,360 $ 20,000 $ 6,340 Stockholders Equity Capital Stock $ 20,000 Retained Earnings N Total Equity $ 26,340 Liabilities and Equity Financing Dividends $ (50) $ (50) $ 14,200 Ending Cash 0