ASSETS LIABILITIES NET ASSETS Donation Cash Asset ...
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Accounting
| ASSETS | LIABILITIES | NET ASSETS | |
| Donation Cash Asset | |||
| Med Equip. Asset Liability | |||
| Payroll | |||
| TOTAL ASSETS |
Transaction A. A donation of $25,000 was received....Trans B. New Med Equipment was purchased as (an asset) for $10,000 and will pay for it in 90 days, creating a liability.....Trans C. Payroll was distributed resulting in a decrease in the amount of $2,000.
Using Accounting Equation Assets=Liabilities + Net Assets
What are the balance sheet totals after these transactions, assuming the society had a beginning balance of $0 / PLEASE SHOW what figures go in each row if necessary.
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