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On December 1, 2016, Geneva Jordan opened her new business
with the following assets and liabilities. Complete the
accounting equation for the firm.
Accounts Payable
$
1,100
Prepaid Rent
$
6,000
Cash
3,950
Loans Payable
15,500
Equipment
26,200
Supplies
1,250
Complete the accounting equation for the firm.
Assets
$ [removed]
=
Liabilities
$ [removed]
+
Owner’s Equity
$ [removed]

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On December 1, 2016, Geneva Jordan opened her new business with the .docx

  • 1. On December 1, 2016, Geneva Jordan opened her new business with the following assets and liabilities. Complete the accounting equation for the firm. Accounts Payable $ 1,100 Prepaid Rent $ 6,000 Cash 3,950 Loans Payable 15,500 Equipment 26,200 Supplies 1,250 Complete the accounting equation for the firm.