Balance Sheet
Total Assets = Total Liabilities + Total Equity
November 1 Edith Porras invested $75,000 in cash plus
tools with a fair market value of $15,000 to start the
$ 90,000 $ 90,000
business.
November 2 Purchased equipment for $13,500 and
supplies for $1,700 from Airline Equipment Company,
Invoice 551; issued Check 100 for $5,500 as a down
payment with the balance due in 30 days.
9,700
November 10 Performed services for Worldwide Airlines
for $33,200, which paid $15,800 in cash with the
33,200 33,200
balance due in 30 days.
November 20 Purchased machinery for $8,000 from
Craft Machinery, Incorporated, Invoice 779; issued
Check 101 for $1,500 in cash as a down payment with
6,500
the balance due in 30 days.
Totals - Should agree with Balance Sheet
$ 123,200 $ 16,200 $ 123,200
