Score:
Key Code:
An asterisk (*) will appear next to or below an incorrect entry only in the outlined cells.
a.
Assets Liabilities
Owner’s Equity
Total liabilities and
Total assets owner’s equity
Assets Liabilities
Owner’s Equity
Total liabilities and
Total assets owner’s equity
b.
Owner’s equity, March 31
c.
Owner’s equity, March 31
0%
2
Instructions
Net income
Balance Sheet
EBONY INTERIORS
Balance Sheet
March 31, 2014
Net income
Withdrawals
Increase in owner’s equity
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Owner’s equity, February 28
Owner’s equity, February 28
Feburary 28, 2014
EBONY INTERIORS
Exercise 1-21
Name:
Section:
Score:
Key Code:
a.
Assets Liabilities
Cash 320,000$ Accounts payable 310,000$
Assets Liabilities
Cash 380,000$ Accounts payable 400,000$
b.
Owner’s equity, March 31 975,000$
EBONY INTERIORS
Balance Sheet
Feburary 28, 2014
An asterisk (*) will appear next to or below an incorrect entry only in the outlined cells.
ON
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Enter the appropriate amounts/formulas in the answer cells, or select from the drop-down list.
EBONY INTERIORS
Balance Sheet
March 31, 2014
Exercise 1-21
Name:
Solution
Section: