The balance sheet of Crane Book Shop at April 30, 2021, is as
follows:
CRANE BOOK
SHOP
Balance Sheet
April 30, 2021
Assets
Liabilities
and Owner’s Equity
Building
$104,470
Accounts payable
$ 15,280
Accounts receivable
37,560
Equipment
55,280
C. Dryfuss, capital
85,890
Supplies
1,410
Cash
11,990
"Plug"
343,590
Land
51,850
Notes payable
123,800
$415,560
$415,560
Charles Dryfuss, the owner of the book shop, admits that he is not
an accountant. In fact, he couldn't get the balance sheet to
balance...