This balance sheet shows the assets, liabilities, and equity for Tuscany Landscapes as of December 31, 2020. The company had $6,290 in its checking account and $700 in fixed assets like a mower and trimmer equipment, totaling $6,990 in assets. For equity, the company had an opening balance of $1,500 and net income of $5,490, totaling $6,990 in equity. The total liabilities and equity equaled the total assets of $6,990.

1. Yonathan Negash QB Case 12 Tuscany Landscapes9:11 AM
Balance Sheet 07/20/2016
As of December 31, 2020 Accrual Basis
Dec 31, 20
ASSETS
Current Assets
Checking/Savings
Checking 6,290.00
Total Checking/Savings 6,290.00
Total Current Assets 6,290.00
Fixed Assets
14000 · Mower
14100 · Mower Cost 800.00
14200 · Accumulated Depreciation Mower -200.00
Total 14000 · Mower 600.00
18000 · Trimmer Equipment
18100 · Trimmer Equipment Cost 200.00
18200 · Accumulated Depr Trimmer -100.00
Total 18000 · Trimmer Equipment 100.00
Total Fixed Assets 700.00
TOTAL ASSETS 6,990.00
LIABILITIES & EQUITY
Equity
30000 · Opening Balance Equity 1,500.00
Net Income 5,490.00
Total Equity 6,990.00
TOTAL LIABILITIES & EQUITY 6,990.00
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