Prob. 1–5A 1. Assets = Liabilities + Equity Stockholders’ Accounts Accounts Capital Retained Earnings Cash + Receivable + Supplies + Land = Payable + Stock + Retained Earnings $45,000 + $93,000 + $7,000 + $75,000 = $40,000 + $60,000 + $100,000 Earnings $220,000 = + $120,000 = Retained Earnings
Prob. 1–5A 1. Assets = Liabilities + Stockholders’ Equity Cash + Accounts Receivable + Supplies + Land = Accounts Payable + Capital Stock + Retained Earnings $45,000 + $93,000 + $7,000 + $75,000 = $40,000 + $60,000 + Retained Earnings $220,000 = $100,000 + Earnings $120,000 = Retained Earnings
Warren_FinMan12e_SM01_final.docx