The following are the balances for Gold Peak Manufacturing as of December 31, 2023. Compute...
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Accounting
- The following are the balances for Gold Peak Manufacturing as of December 31, 2023. Compute the total assets and total liabilities.
Description | Debit (?) | Credit (?) |
Cash | 10,000 | |
Accounts Receivable | 20,000 | |
Inventory | 50,000 | |
Equipment | 100,000 | |
Accounts Payable | 30,000 | |
Bank Loan | 70,000 | |
Equity | 80,000 | |
Retained Earnings | 0 |
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