5.4 DIY Balance Sheet PRACTICE Assignment Given the following information for Jane Brown, lawyer, calculate the value of J. Brown, Capital as of December 31, 2022: 1) Identify all the Asset, and find the total Asset value. Identify all the Liabilities, and find the Total Liabilities value. Use the Fundamental Accounting Equation to calculate the value of J. Brown, Capital. Item Value Accounts Payable 2, 300 Cash in Bank 14, 500 Accounts Receivable 3,400 Law Book Library 8, 500 GST Payable 550 GST Recoverable 268 Prepaid Rent 2, 500 Office Supplies 765 Bank Loan (2 year) 3,400 Office Equipment 15, 400 Salaries Payable 1, 200

5.4 DIY Balance Sheet PRACTICE Assignment Given the following information for Jane Brown, lawyer, calculate the value of J. Brown, Capital as of December 31, 2022: 1) Identify all the Asset, and find the total Asset value. Identify all the Liabilities, and find the Total Liabilities value. Use the Fundamental Accounting Equation to calculate the value of J. Brown, Capital. Item Value Accounts Payable 2, 300 Cash in Bank 14, 500 Accounts Receivable 3,400 Law Book Library 8, 500 GST Payable 550 GST Recoverable 268 Prepaid Rent 2, 500 Office Supplies 765 Bank Loan (2 year) 3,400 Office Equipment 15, 400 Salaries Payable 1, 200

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 2PA

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