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Tansactions on Balance Sheet Peactice). Protected Vice-Seved to PC. sign Layout References Mailings Review View...

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Tansactions on Balance Sheet Peactice). Protected Vice-Seved to PC. sign Layout References Mailings Review View Help Elotes internet can continues. Unless you need to edit, it's safer to stay in Protected View. Enabledon Question 2 The following assets and liabilities were held by A Sutton on 1 June 2020. Cash in Hand 20 Accounts Receivable 2 000 Accounts Payable 1 000 Loan to D Homes 1 000 Inventories 2 000 Furniture & Fittings 2 000 Land & Buildings 10 000 Bank Overdraft 1 000 e 1. Calculate the Owners Equity 2. Create a Balance Sheet for A. Smith 3. Review the following transactions and create a new Balance eet with the adjusted totals. 3 Debtors paid $500 14 Sutton withdrew cash $50 and Furniture valued at $100 20 Additional Furniture was bought on credit $700 22 The Cash in Hand was increased by $20 23 D Home's Loan was reduced by $500 25 A plece of equipment valued at $2 000 was purchased. $500 cash was paid with the balance being financed by a Loan from D Thomas

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