MANHATTAN FAMILY DENTISTRY
Balance Sheet
January 1, 20__ Assets
Liabilities & Stockholders’ EquityCash
$ 20,000 Liabilities:Accounts receivable...........
31,000 Accounts
payable ................................
$ 45,000Land
190,000
Total liabilities..................................
$ 45,000Building............................
225,000 Owners’ equity:Equipment.........................
_35,000
Capital stock.....................................
456,000Total assets.......................
$501,000 Total liabilities and
owners’ equity........... $501,000During the first few days of January, the following transactions
occurred:Jan
2 Equipment was purchased for
$38,000 on credit.
2 The business collected
$16,000 of its accounts receivable and paid $23,000...