Required information Business Sim Corp. (BSC) issued 2,000 common shares to Kelly in exchange for $29,000....

Required information Business Sim Corp. (BSC) issued 2,000 common shares to Kelly in exchange for $29,000. BSC borrowed $50,000 from the bank, promising to repay it in two years. BSC purchased computer equipment for $63,000, signing a six-month note for $8,000, and paying the balance with check number 101. BSC received $1,450 of supplies purchased on account. BSC’s loan contains a clause (“covenant”) that requires BSC to maintain a ratio of current assets to current liabilities of at least 2.6.

Identify the transactions and analyze their accounting equation effects. (Enter any decreases to account balances with a minus sign.)
Basically Make a Balanced sheet. Thanks!

Assets	Liabilities	Stockholders Equity

Expert Solution

ekkarill92 answered 2 years ago

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