Balance Sheet

Entity A

Balance Sheet

As of December 31, 20x1

Assets

Liabilities

Cash

$95,000

Accounts payable

$21,000

Accounts receivable

15,000

Notes payable

36,000

Merchandise

29,000

   Total Liabilities

57,000

Equipment

36,000

Accumulated depreciation

(600)

Equity

Owner’s equity

110,000

Retained earnings

7,400

   Total Equity

117,400

Total Assets

$174,400

Total Liabilities and Equity

$174,400