For this assignment, you will create a balance sheet as of June 30, 2020 for Goldkind Legal Services, a service-based sole proprietorship owned by Barry Goldkind.
You will create your balance sheet using either the blank columnar paper provided by your teacher or the Google Sheets template.
The asset and liability accounts of the firm as of June 30, 2024, in no particular order, are as follows:
.
Office Furniture $5,800
Cash on Hand $4,000
Office Equipment $8,000
Mortgage Payable $325,000
Office Supplies $2,000
Accounts Payable $3,600
Land and Building $450,000
Bank Balance $350,000
Accounts Receivable $58,500
Bank Loan $25,000
.
Please note that you must calculate the equity/capital of the firm on your own using the formula A - L = OE.
You will note that there are no individual debtor customers (under Accounts Receivable) or creditor suppliers (under Accounts Payable) that you must account for in this question - simply use the Accounts Receivable and Accounts Payable accounts as required.
And of course, you must follow proper formatting rules for Chapter 2, Grade 11 balance sheets.